TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, and agrees to pay the charges for, all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term. (B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee. (C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due. (D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease. (E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto. (F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name.
Appears in 15 contracts
Samples: Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund 24 LLC)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents Rents payable hereunderhereunder (expressly excluding general income taxes, except for inheritance taxes based solely and estate taxes imposed upon the income of Lessor). Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise taxtax or Rent tax (expressly excluding general income taxes, rental tax, or income or profit tax inheritance taxes and estate taxes imposed upon Lessor) shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first each payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall either (i) pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, or (ii) post with Lessor alternative security satisfactory to Lessor, not to exceed 150% of the property is subject to levy or executionamount contested and the potential penalties and interest thereon. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expenses of Lessor, if any, in such proceeding, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
Appears in 12 contracts
Samples: Net Lease Agreement (Aei Income & Growth Fund 25 LLC), Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership), Net Lease Agreement (Aei Net Lease Income & Growth Fund Xx Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax xxxx. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 9 contracts
Samples: Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership), Net Lease Agreement (Aei Real Estate Fund Xviii Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents Rents payable hereunderhereunder (expressly excluding general income taxes, except for inheritance taxes based solely and estate taxes imposed upon the income of Lessor). Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax or Rent tax. (expressly excluding general income taxes, rental tax, or income or profit tax inheritance taxes and estate taxes imposed upon Lessor) shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first each payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall either (i) pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, or (ii) post with Lessor alternative security satisfactory to Lessor, not to exceed 150% of the property is subject to levy or executionamount contested and the potential penalties and interest thereon. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expenses of Lessor, if any, in such proceeding, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
Appears in 6 contracts
Samples: Net Lease Agreement (Aei Income & Growth Fund 23 LLC), Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund 23 LLC)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or mayshall, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents Rents payable hereunderhereunder (expressly excluding general income taxes, except for inheritance taxes, franchise and other corporate taxes based solely and estate taxes imposed upon the income of Lessor) (collectively, "Taxes"), and Lessor agrees to promptly forward to Lessee any and all notices that it receives regarding such Taxes. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a Rent tax (expressly excluding general income taxes, inheritance taxes, franchise tax, rental tax, or income or profit tax and other corporate taxes and estate taxes imposed upon Lessor) shall be levied against Lessor in substitution for or in lieu of any tax Tax which would otherwise constitute a real estate tax, such tax Tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first each payment or any installment thereof is due.
(D) Lessor shall promptly (but in any event within sufficient time to allow Lessee to review and, if it so desires, to contest same) forward to Lessee, to the extent that Lessor has been unable to cause the local taxing authorities to send such notices directly to Lessee, notices of all taxes assessed on the Leased Premises and the Building. Lessee shall have the exclusive right during the term hereof, at its sole expense, to contest contest, protest, appeal, or review by legal institute other proceedings to effect a reduction or abatement of Taxes for any tax year that ends after the date of this Lease. The protest, appeal, or other proceedings may be conducted in the name of Lessor or Lessee, as Lessee may consider appropriate. To this end, at Lessee's expense, Lessor shall cooperate with Lessee and furnish appropriate documents and information. Pending any such other manner proceedings, Lessee shall give Lessor such security as may be legal (which, if instituted, deemed reasonably satisfactory to Lessor to insure payment of the Taxes and all interest and penalties thereon. Any cash security provided by Lessee pursuant to this Section shall be conducted solely earn interest for the benefit of Lessee at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementionedthe rate of interest earned in federally insured money market accounts. If, at any time until during the property is subject to levy or execution. All continuance of such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reductionproceedings, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payableany part thereof is, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name reasonable judgment of Lessor, in which event danger of being forfeited or lost, Lessor shall upon written request, join in may use such proceedings or permit security for the same to be brought in its namepayment of such Taxes.
Appears in 4 contracts
Samples: Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund 24 LLC), Net Lease Agreement (Aei Income & Growth Fund 25 LLC)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax xxxx. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee;s pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 4 contracts
Samples: Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Net Lease Agreement (Aei Net Lease Income & Growth Fund Xx Limited Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee X. Xxxxxx shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Commencement Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) B. Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and and, except as otherwise provided below, other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee Xxxxxx in addition to the Rent defined at Article 4 hereof. Lessee Nothing herein shall be deemed or construed to have complied with require Lessee to pay or discharge any tax which may be levied by any governmental authority upon the foregoing covenant if payment is permitted without penalty or interestincome, profits, or before the same shall become a lien upon the Leased Premises. If by law business of Lessor, Xxxxx Xxxxxxxxx Xxxxx Xxxxxx /s/ XX Xxxxxx /s/ RPJ 5/28/99 including rent due Lessor hereunder, or any real estate personal property taxes, assessments for public improvements franchise, inheritance or benefitsestate bases, or other governmental impositions, duties, and charges taxes upon inheritance or right of every kind and nature whatsoever succession which may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for any estate or in lieu interest of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by LesseeXxxxxx.
(C) C. All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Xxxxxx's reasonable estimate of Xxxxxx's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLesseeOs pro-rata obligation for such real estate taxes.
(D) Lessee X. Xxxxxx shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatchLessor. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) LessorX. Xxxxxx, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain recover the amount of such expenses from any refund refund, but not more than the refund, payable by the governmental authority with respect thereto.
(F) Lessor X. Xxxxxx shall not be required to join in any proceeding referred to in this Article, unless in LesseeXxxxxx's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
G. Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Xxxxxx shall also pay to Lessor, as additional Rent, the amount of any sales tax or excise tax, on Rents imposed by the State where the Leased Premises are located. Xxxxx Xxxxxxxxx Xxxxx Xxxxxx /s/ XX Xxxxxx /s/ RPJ 5/28/99
Appears in 3 contracts
Samples: Sale and Purchase Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Sale and Purchase Agreement (Aei Real Estate Fund 85-a LTD Partnership), Sale and Purchase Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined described at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Xxxsee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 3 contracts
Samples: Net Lease Agreement (Aei Real Estate Fund Xv LTD Partnership), Net Lease Agreement (Aei Real Estate Fund Xvii Limited Partnership), Net Lease Agreement (Aei Real Estate Fund Xvii Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) A. Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Commencement Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) B. Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and and, except as otherwise provided below, other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee Nothing herein shall be deemed or construed to have complied with require Lessee to pay or discharge any tax which may be levied by any governmental authority upon the foregoing covenant if payment is permitted without penalty or interestincome, profits, or before the same shall become a lien upon the Leased Premises. If by law business of Lessor, including rent due Lessor hereunder, or any real estate personal property taxes, assessments for public improvements franchise, inheritance or benefitsestate bases, or other governmental impositions, duties, and charges taxes upon inheritance or right of every kind and nature whatsoever succession which may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for any estate or in lieu interest of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by LesseeLessor.
(C) C. All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Xxssee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) D. Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatchLessor. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) E. Lessor, within sixty sixxx (6000) days xxxx after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain recover the amount of such expenses from any refund refund, but not more than the refund, payable by the governmental authority with respect thereto.
(F) F. Lessor shall not be required to bx xxxxxxxx xo join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
G. Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax or excise tax, on Rents imposed by the State where the Leased Premises are located.
Appears in 3 contracts
Samples: Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership), Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership), Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the before delinquency all charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, like ("Utility Charges");
(B) Lessee shall pay all personal property taxestaxes attributable to its personalty on the Leased Premises, all real estate taxes, special assessments, and municipal or government other governmental impositions, duties, and charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term Term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements if exercised, or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term Term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor("Taxes"). Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee Nothing contained in this Lease, however, shall be deemed or construed to have complied with include within Taxes: (i) any transfer, documentary or stamp tax; (ii) any tax upon the foregoing covenant if payment is permitted without penalty income, profits or interestbusiness of Lessor (other than any sales or other such tax that may be imposed on the Rent itself or any additional rent); (iii) any personal property taxes, capital levy, or before franchise taxes which are imposed on any propertyOwned by lessor other than the same shall Leased Premises; or (iv) payroll taxes, inheritance or estate taxesImposed on Lessor even though such taxes may become a lien upon against the Leased Premises. If by law any real estate taxes; provided, assessments for public improvements or benefitshowever, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If if due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor. Lessee shall make any payments of Taxes on or before the later of (i) the due date thereof or (ii) thirty (30) days after Lessor provides Lessee with a copy of the tax xxxx therefor (if sent directly to Lessor by the taxing authority). Lessor shall be responsible for any interest or penalties caused by its delay in forwarding any tax bills to Lessee. The Leased Premises shall be separately assessed and a tax xxxx issued to Lessee separate from any other property if permitted under applicable law. Lessor and Lessee shall cooperate in providing to the taxing authority all necessary documentation to request that such tax xxxx be issued directly to Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges Taxes which shall become payable for the first and last tax years of the term Term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the Term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the Term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the Term hereof, based upon the last available tax xxxx. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days prior to the end of the Term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term Term of this Lease. If any general or special assessment is assessed against the Leased Premises, Lessor shall elect to pay the assessment in installments over the longest period of time allowed by applicable law, and only those installments (or partial installments) attributable to the Term of this Lease shall be considered in determining Lessee's tax liability for such assessment.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) In the event Lessee fails to pay such taxes, within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the Term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
(H) Lessor shall provide Lessee with a copy of any increased tax assessment within thirty (30) days of its receipt. Lessee shall have the right to contest any assessment or the validity of any tax, provided that Lessee shall indemnify, defend and hold Lessor and the Leased Premises harmless from any cost, expense, liability, lien or damage arising out of such contest.
Appears in 3 contracts
Samples: Net Lease Agreement (Aei Real Estate Fund Xv LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Net Lease Agreement (Aei Real Estate Fund Xvii Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the before delinquency all charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, like ("Utility Charges");
(B) Lessee shall pay all personal property taxestaxes attributable to its personalty on the Leased Premises, all real estate taxes, special assessments, and municipal or government other governmental impositions, duties, and charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term Term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements if exercised, or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term Term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor("Taxes"). Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee Nothing contained in this Lease, however, shall be deemed or construed to have complied with include within Taxes: (i) any transfer, documentary or stamp tax; (ii) any tax upon the foregoing covenant if payment is permitted without penalty income, profits or interestbusiness of Lessor (other than any sales or other such tax that may be imposed on the Rent itself or any additional rent); (iii) any personal property taxes, capital levy, or before franchise taxes which are imposed on any property owned by Lessor other than the same shall Leased Premises; or (iv) payroll taxes, inheritance or estate taxes imposed on Lessor even though such taxes may become a lien upon against the Leased Premises. If by law any real estate taxes; provided, assessments for public improvements or benefitshowever, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If if due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor. Lessee shall make any payments of Taxes on or before the later of (i) the due date thereof or (ii) thirty (30) days after Lessor provides Lessee with a copy of the tax xxxx therefor (if sent directly to Lessor by the taxing authority). Lessor shall be responsible for any interest or penalties caused by its delay in forwarding any tax bills to Lessee. The Leased Premises shall be separately assessed and a tax xxxx issued to Lessee separate from any other property if permitted under applicable law. Lessor and Lessee shall cooperate in providing to the taxing authority all necessary documentation to request that such tax xxxx be issued directly to Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges Taxes which shall become payable for the first and last tax years of the term Term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the Term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the Term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the Term hereof, based upon the last available tax xxxx. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days prior to the end of the Term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term Term of this Lease. If any general or special assessment is assessed against the Leased Premises, Lessor shall elect to pay the assessment in installments over the longest period of time allowed by applicable law, and only those installments (or partial installments) attributable to the Term of this Lease shall be considered in determining Lessee's tax liability for such assessment.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) In the event Lessee fails to pay such taxes, within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the Term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
(H) Lessor shall provide Lessee with a copy of any increased tax assessment within thirty (30) days of its receipt. Lessee shall have the right to contest any assessment or the validity of any tax, provided that Lessee shall indemnify, defend and hold Lessor and the Leased Premises harmless from any cost, expense, liability, lien or damage arising out of such contest.
Appears in 3 contracts
Samples: Net Lease Agreement (Aei Real Estate Fund Xviii Limited Partnership), Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership), Net Lease Agreement (Aei Income & Growth Fund 23 LLC)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents Rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expenses of Lessor in such proceeding, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, and tax or fees charged foreign limited partnerships or their general partners as a requisite for doing business in the state where the Leased Premises are located, arising out of or relating to the income derived from this Lease. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect. Lessee shall also pay to Lessor, as additional Rent, the amount of any sales, use, or other tax imposed on or measured by any Rent paid hereunder. Such sales, use, or other tax shall be paid by Lessee to Lessor at the same time as payment of any installment of Base Rent is made.
Appears in 2 contracts
Samples: Net Lease Agreement (Aei Real Estate Fund Xvi LTD Partnership), Net Lease Agreement (Aei Real Estate Fund Xvii Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents Rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor. In no event shall Lessee be liable for any payment required of Lessor to qualify to do business in the state where the Leased Premises are situate.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is duedue (presumed to be paid in arrears for purposes of such proration).
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax imposed on Rent by the then current sales tax law, where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect. Lessee shall be entitled upon written request to copies of sales tax returns of Lessor showing such tax was paid.
Appears in 2 contracts
Samples: Net Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall gxxx Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 2 contracts
Samples: Net Lease Agreement (Aei Net Lease Income & Growth Fund Xx Limited Partnership), Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Xxxsee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either promptly refund to Lessee any over payment of the pro- rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to equitable apportionment (after deduction of Lessee's reasonable out of pocket expenses incurred in obtaining such refund) as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after written notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee after the aforesaid notice from Lessor shall promptly join and share in the cost with Lessor in of such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto. Provided, however, if Lessee shall join and share in the cost of such contest or review, and there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to an equitable apportionment of such refund attributable (after reimbursement to Lessee and Lessor for reasonable out of pocket expenses incurred in obtaining such refund) to taxes payable or paid by Lessee under the terms of this Lease.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax on Rent to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect. Notwithstanding the foregoing, nothing contained herein shall be construed to include as a tax for which Lessee is liable which shall be the basis of any inheritance, estate, succession, transfer, gift, franchise, corporation, income or profit tax or capital levy that is or may be imposed upon Lessor.
(H) Notwithstanding anything in this Lease to the contrary, in the event that during the Term (or any extension thereof) any governmental entity makes any improvement and assesses any portion of the Leased Premises therefor, Tenant shall be liable only for so much of the assessment as shall be due and payable if paid in the minimum allowed installments without incurring penalty or late charge. Additionally, with respect to any special assessments which may be levied or assessed during the Term or any renewal thereof, Lessee shall have the right to pay such assessments in equal installments over the longest legally available period and shall not be liable for any remainder existing after expiration of the Term (or any renewal).
Appears in 2 contracts
Samples: Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Net Lease Agreement (Aei Real Estate Fund Xvi LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, and agrees to pay the charges for, all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public Lessee /s/ JR Lessor /s/ RPJ Children's World Purchase Agreement 5/20/99 improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Aei Real Estate Fund Xv LTD Partnership), Purchase and Sale Agreement (Aei Income & Growth Fund Xxii LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provisionthe term hereof (or within thirty days of receipt of Lessor's notice of such Lessor's reasonable estimate thereof, all personal property taxes, whichever is later) reasonable estimate of Lessee's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax xxxx. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 90 days before the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, tax or fees charged on rent (exclusive of income tax). At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund Xvii Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, and agrees to That it will forthwith pay the charges for, all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, water and municipal or government sewer charges and public charges, general, ordinary general and extraordinaryspecial, of every kind nature, now existing against the Mortgaged Property, the improvements thereon and appurtenances thereto, and pay before delinquent all taxes, assessments, water and sewer charges and public charges, general and special, of every nature whatsoever, which may be levied, imposed, hereafter levied or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of the enactment after the date hereof of any reductionFederal law or law of the State of Kansas deducting from the value of land for the purpose of taxation, cancellationany lien thereon, or dischargechanging in any way the laws now in force for the taxation of mortgages or debts secured by mortgages, Lessee shall pay or the amount that shall be finally levied manner of the collection of any such taxes, so as to materially or assessed against adversely affect this Mortgage or the Leased Premises or adjudicated debt secured hereby, then, in such case the whole of the unpaid principal sum secured by this Mortgage, together with the interest accrued thereon, shall, at the option of Mortgagee and without notice to be any party, become immediately due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject; provided, however, Mortgagee agrees that it will not exercise such option to apportionment as provided during so declare such indebtedness to be immediately due and payable if Mortgagor shall pay before the first and last years same shall be delinquent any tax, imposition or assessment imposed by any such law resulting in Mortgagee having to bear directly or indirectly the whole or any part of any tax, imposition or assessment imposed upon or with respect to the Mortgaged Property or this Mortgage or the lien created hereby. Mortgagor will pay (or cause to be paid) before delinquent all charges for gas, electricity, water, sewer or other public utility services furnished to the Mortgaged Property. In the event Mortgagor shall fail to pay any of the term of this Lease.
foregoing before delinquent Mortgagee may (E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, ) pay the same and at Lessor's own expense, any tax, assessments for public improvements interest and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, penalties thereon and unless Lessee shall promptly join the sums so advanced with Lessor in such contest or review, Lessor all costs and expenses thereof shall be entitled to receive and retain any refund payable by the governmental authority secured hereby in accordance with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its nameSection 2.14 below.
Appears in 1 contract
Samples: Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement (MGP Ingredients Inc)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, and 6.01 Tenant agrees to pay pay, at least thirty (30) days before they become delinquent, as additional rent for the charges for, Premises all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, Real Estate Taxes (as hereinafter defined) which may be levied, imposedassessed or imposed on the Premises or any part thereof, or assessed against the Leased Premises, on any building or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior situated thereon, during or pertaining to the expiration of the term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term Term of this Lease, and Tenant shall provide Landlord with receipts evidencing payment of the Real Estate Taxes at least ten (10) days before such Real Estate Taxes become delinquent. Real Estate Taxes for the first year of the Term and the last year of the Term of this Lease will be chargedprorated between Landlord and Tenant so that Tenant will be responsible for any such Real Estate Taxes attributable to the period during which Tenant is entitled to possession of the Premises. At the end of the Lease Term, laidprovided Tenant is not then in default under the Lease, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or Landlord will reimburse Tenant for any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent Real Estate Taxes paid by Lessee Tenant for the time period after the end of the Lease Term. The so-called "due date" method of proration will be used (as if Public Act 80 of 1994 were never enacted), it being presumed that Real Estate Taxes are payable in addition advance. For example, if Real Estate Taxes were due and payable on July 1, 2001 and December 1, 2001, and the Commencement Date is February 1, 2002, then Tenant shall reimburse Landlord on the Commencement Date for Tenant's pro rata share of Real Estate Taxes for that period from February 1, 2002 to July 1, 2002, and for that period from February 1, 2002 to December 1, 2002. Tenant shall pay to Landlord its pro rata portion of the current Real Estate Taxes for the first year of this Lease on the Commencement Date. If at any time during the term hereof the Premises are not taxed by separate assessment, Tenant shall pay its pro rata share of the assessment of Real Estate Taxes that covers the Premises, computed based on the percentage that the total square footage of the improvements bears to the Rent defined total square footage of all buildings and improvements, including the improvements, covered by the assessment of Real Estate Taxes which covers the improvements, reduced by that portion of such Real Estate Taxes attributable to land without buildings thereon, and Tenant shall pay its proportionate share of such Real Estate Taxes within ten (10) days after receipt of an invoice therefore from Landlord. If Tenant shall fail to timely pay the Real Estate Taxes as provided herein, Landlord may, at Article 4 hereof. Lessee shall its option, pay such Real Estate Taxes, and any amount so paid by Landlord will be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, additional rental due and payable on or before the same shall become a lien upon the Leased Premises. If by law any real estate taxesnext Rent Day, assessments for public improvements or benefits, or other governmental impositions, duties, together with late charges and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Leasein Section 5 hereof.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name.
Appears in 1 contract
TAXES, ASSESSMENTS AND UTILITIES. (A) Section 4.01: Lessee shall be liable, and agrees to pay the charges for, Lessor its proportionate share of all public utility services rendered taxes and assessments which have been or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, levied or assessed against the Leased Premisesby any lawful authority, or upon for any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of calendar year during the term hereof, or against the land and Leased Premises presently and/or at any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, time during the term of this LeaseLease comprising the Building. Lessee's proportionate share shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be chargedthe number of square feet of floor area in the Leased Premises, laid, levied, assessed, and the denominator of which shall be the total number of square feet of constructed leasable floor area in the Building. Any tax and/or assessment of any kind or nature presently or hereafter imposed by the State of Michigan or any political subdivision thereof or any governmental authority having jurisdiction there over upon, against or become a lien with respect to the rentals payable by tenants in the Building to Lessor or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon on the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition Lessor derived from the Building or with respect to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interestLessor's, or before the same shall become a lien upon individuals or entities which form the Leased Premises. If by law any real estate taxesLessor herein, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option ownership of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments land and shall pay such installments as they become due buildings presently and/or at any time during the term of this Lease. Lessee shall not be liable Lease comprising the Building, either by way of substitution for installments which come due after the termination date all or any part of the Lease. If due to a change in the method of taxationtaxes and assessments levied or assessed against such land and such buildings, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed to constitute a real estate tax and/or assessment against such 'land and such buildings for the purposes herein purpose of this Section, and' Lessee shall be obligated to pay its proportionate share thereof as provided herein. In addition, Lessee shall also be obligated to pay any sales tax imposed by any governmental authority on the payments by Lessee or on the receipt by Lessor of any and all payments from Lessee. If the sales tax is separately assessed, then Lessee shall pay that amount imposed on the individual payments of Lessee; if the sales tax is not separately assessed, the Lessee shall pay its proportionate share monthly as provided herein.
Section 4.02: Lessee's share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Lessor, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Lessee.
(C) All Lessor; provided, that in the event Lessor is required under any mortgage covering the land and improvements leased to Lessee to escrow real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner use the amount required to be so escrowed as may be legal, a basis for its estimate of the monthly installments due from Lessee hereunder. Upon receipt of all tax bills and at Lessor's own expense, assessment bills attributable to any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or reviewcalendar year during the term hereof, Lessor shall be entitled to receive and retain any refund payable by furnish Lessee with a written statement of the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in actual amount of Lessee's reasonable opinionshare of the taxes and assessments for such year. In the event no tax xxxx is available, Lessor will compute the amount of such tax. If the total amount paid by Lessee under this Section for any such year, as shown on such statement, Lessee shall pay to Lessor the difference between the amount paid by Lessee and the actual amount due, such deficiency to be paid within thirty (30) days after demand therefore by Lessor; and if the total amount paid by Lessee hereunder for such calendar year shall exceed such actual amount due from Lessee for such calendar year, such excess shall be credited against the next installment of taxes and assessments due from Lessee to Lessor hereunder. All amounts due hereunder shall be payable to Lessor at the place where the fixed annual rental is payable. For the calendar years in which this Lease commences and terminates, the provisions of this Section shall apply, and Lessee's liability for its proportionate share of any lawtaxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar years during which the term of this Lease is in effect. A copy of a tax xxxx or assessment xxxx submitted by Lessor to Lessee shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such xxxx relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, ruleLessor shall notify Lessee, in writing, or regulation Lessor's estimate of Lessee's monthly installments due hereunder. Lessor's and Lessee's obligations under this Section shall survive the expiration of the term of this Lease.
Section 4.03: Lessee also agrees to pay all charges made against the Leased Premises for gas, heat, electricity, and all other utilities separately metered during the continuance of this Lease as the same shall become due.
Section 4.04: In the event any or all of the foregoing utilities are to be paid from an escrowed fund required to be established by Lessor or its financial institution under the terms of any financing, the Lessor shall notify Lessee and Lessee shall be required to include with the additional monthly payments referred to in Section 4.02 a monthly amount to satisfy the estimated monthly utility costs. If the utilities, when due, exceed the total amount then in the utility escrow, then the Lessee shall, upon demand, pay any deficiency to Lessor. If such payments by Lessee, over the term of the Lease, exceed the amount of utilities paid from the escrow, such excess shall be refunded by Lessor to Lessee at the time in effect shall require that expiration of the Lease term, or when such a proceeding be brought excess is refunded by and/or in the name of financial institution to Lessor, in which event Lessor whichever first occurs. The utility escrow shall upon written request, join in such proceedings or permit the same be adjusted as often as necessary to be brought in its nameprovide sufficient funds to pay current utilities.
Appears in 1 contract
Samples: Lease Agreement (Arotech Corp)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee Section 1. The Tenant shall be liablebear, pay and agrees to pay discharge punctually as and when the charges for, all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities same shall become due and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during payable throughout the term of this Leaselease all such taxes, duties, assessments, governmental impositions and also all such water rates, rents or charges (whether imposed annually or measured according to quantity of water consumed, including all charges for installing and repairing water meters now or hereafter required to be chargedinstalled in any part of the demised premises), as shall or may during the terms of this Lease be laid, levied, assessed, assessed or imposed upon, or become a lien due or payable, or liens upon or chargeable, against the Leased Premises demised premises or any part thereof hereof or upon the rents payable hereundersidewalks or streets adjoining or in front thereof, or against the owner or occupant of the demised premises or both, save and except for taxes based solely upon the income of Lessor. Such payments shall be considered that as rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last fiscal tax years of which part of the first year and part of the last year of the term hereof hereby granted are parts, the Tenant shall be apportioned pro rata between Lessor bear and Lessee in accordance with the respective number of months during which each party shall be in possession pay only that proportionate part of the Leased Premises in taxes for each of said respective fiscal tax years. For years which the purposes period of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed the term hereunder occurred during each of the said fiscal tax years bears to have been assessed in the year that the first payment or any installment thereof is duean entire year.
(D) Lessee Section 2. The Tenant shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefitscontest, or other governmental imposition aforementionedreview, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as it may deem suitable (which, if instituted, shall be legalconducted promptly, and in its own name or the name of the Landlord, or both, but at Lessorthe Tenant's own expenseexpense and free of all expense to the Landlord), any tax, assessments duty, assessment, governmental imposition, water rates, rent, or charges, above referred to, upon condition that within the time limited by this Lease for public improvements and benefitsthe payment of such tax, assessment, water rents, or other governmental imposition aforementionedcharges, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor the same are paid.
Section 3. The Tenant shall be entitled to receive solely responsible for the cost of all utilities, including heat, air conditioning, light, power, gas, water and retain any refund payable by the governmental authority with respect theretoheating of hot water.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name.
Appears in 1 contract
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, and agrees to That it will forthwith pay the charges for, all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, water and municipal or government sewer charges and public charges, general, ordinary general and extraordinaryspecial, of every kind nature, now existing against the Mortgaged Property, and pay before delinquent all taxes, assessments, water and sewer charges and public charges, general and special of every nature whatsoeverhereafter levied or assessed thereon. In the event of the enactment after the date hereof of any Federal law or law of the State of South Dakota deducting from the value of land for the purpose of taxation, which may be levied, imposedany lien thereon, or assessed against changing in any way the Leased Premiseslaws now in force for the taxation of deeds of trust or mortgages or debts secured by deeds of trust or mortgages, or upon the manner of the collection of any improvements such taxes, so as to affect this Mortgage or the Indebtedness, then, in such case the whole of the unpaid principal sum secured by this Mortgage, together with the interest accrued thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereofshall, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or Lender, without notice to any party, become immediately due and payable; provided, however, Lender agrees that it will not interest shall accrue on the unpaid balance), Lessee may exercise the such option to so declare such indebtedness to be immediately due and payable if Borrower shall pay before the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) delinquent any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment imposed by any such law resulting in Lender having to bear directly or indirectly the whole or any part of any contested items and shall tax, imposition or assessment imposed upon or with respect to the Mortgaged Property or this Mortgage or the lien created hereby. Borrower will pay (or cause to be prosecuted paid) before delinquent all charges for gas, electricity, water, sewer or other public utility services furnished to final adjudication with reasonable dispatchthe Mortgaged Property. In the event of Borrower shall fail to pay any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
foregoing before delinquent, Lender may (E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, ) pay the same and at Lessor's own expense, any tax, assessments for public improvements interest and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, penalties thereon and unless Lessee shall promptly join the sums so advanced with Lessor in such contest or review, Lessor all costs and expenses thereof shall be entitled to receive and retain any refund payable by the governmental authority secured hereby in accordance with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its namehereof.
Appears in 1 contract
Samples: One Hundred Eighty Day Redemption Mortgage and Security Agreement (Amcon Distributing Co)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provisionthe term hereof (or within thirty days of receipt of Lessor's notice of such Lessor's reasonable estimate thereof, all personal property taxes, whichever is later) reasonable estimate of Lessee's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Lessxx xotice of such estimated pro-rata real estate taxes no later than 90 days before the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, tax or fees charged on rent (exclusive of income tax). At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) 4.01 Lessee agrees to pay, as the same shall be liablebecome due, all ad valorem taxes and assessments, general and special, and agrees to pay the charges for, all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or other government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, impositions which may be levied, imposed, levied upon or assessed levied against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises leased premises or any part thereof or upon until the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option termination of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments original term and shall pay such installments as they become due during the of any extended term of this Lease. Lessee shall not be liable The property taxes and assessments for installments which come due after the termination date first and last year of the Lease. If due to a change in original term or any extended term, as the method of taxationcase may be, a franchise tax, rental tax, or income or profit tax shall be levied against prorated between Lessor in and Lessee so that Lessee will be responsible for any such tax or assessment attributable to the period during which Lessee has Lease obligations for the leased premises. Any tax and/or assessment of any kind or nature presently or hereafter imposed or assessed, either by way of substitution for or in lieu of all or any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years part of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises leased premises or adjudicated any part thereof by the State of Michigan or any political subdivision thereof or any governmental authority having jurisdiction there over upon, against or with respect to be due and payablethe rentals payable by Lessee to Lessor or on the income of Lessor derived from the leased premises or with respect to the Lessor's, andor the individuals or entities which form the Lessor herein, if there ownership of the leased premises, shall be any refund payable by deemed to constitute a tax and/or assessment against the governmental authority with respect thereto, leased premises for the purpose of this Section and Lessee shall be entitled obligated to receive pay those taxes. Notwithstanding anything contained herein to the contrary, Lessee's obligation hereunder shall not include the payment of any income, gross receipts, rentals, or other form of use, tax of general applicability assessed on or against or with respect to the rentals payable by Lessee to Lessor, except to the extent that such tax is assessed in lieu of or in substitution for existing ad valorem taxes on real property which are hereafter modified, abolished or repealed in whole or in part.
4.02 In the event any or all of the foregoing taxes and retain assessments are to be paid from any escrowed fund required to be established by Lessor's financial institution under the sameterms of any financing, subjectthe Lessor shall notify Lessee and Lessee shall be required to include with the monthly payments of rent under Section 3.01 hereof a monthly amount equal to the amount required to be paid by Lessor under the terms of such financing to the escrowed fund on account of such taxes and assessments. If such taxes and assessments, howeverwhen due, exceed the total amount then in the escrow then the Lessee shall, within fifteen (15) days after Lessor's written demand therefor, pay any deficiency to apportionment as provided during the first and last years of Lessor. If such payments by Lessee, over the term of this the Lease, exceed the amount of taxes and assessments paid from the escrow, such excess shall be refunded by Lessor to Lessee following an annual reconciliation thereof. The escrow for such taxes and assessments shall be adjusted as often as necessary to provide sufficient funds to pay current taxes and assessments.
(E) Lessor4.03 Lessee also agrees to pay all charges made against the premises for gas, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedingsheat, mayelectricity, but shall not be obligated towater, contest or review by legal proceedings, or in such other manner as may be legalsewer, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or all other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by utilities (all of the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding foregoing hereinafter collectively referred to in as the "utilities") during the continuance of this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit Lease as the same to be brought in its nameshall become due.
Appears in 1 contract
TAXES, ASSESSMENTS AND UTILITIES. (A) Section 5.01: Lessee shall be liable, and agrees to pay the charges for, to Lessor its proportionate share of all public utility services rendered taxes and assessments which have been or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, levied or assessed by any lawful authority, for any calendar year during the term hereof against the Leased Premises, or upon any improvements thereon, land and buildings presently and/or at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this LeaseLease comprising AIRSIDE COMMERCE PARK. Lessee further agrees to pay its proportionate share of an "amount in lieu of taxes" or an "additional amount in lieu of taxes" as may be assessed to or on Lessor or on its land or its improvements, be charged, laid, levied, assessedin the event Lessor's, or Lessee's leasehold interest, or Lessor's or Lessee's leasehold improvements are not subject to the City of Orlando ad valorem tax levy. Lessee's proportionate share shall be equal. to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be the number of square feet of floor area in the Leased Premises, and the denominator of which shall be the total number of square feet of net constructed leasable floor area in Airside Commerce Park, plus fifteen percent (15%) administration fee. Any tax and/or assessment or payment in lieu thereof of any kind or nature presently or hereafter imposed by the State of Florida or any political subdivision thereof or any governmental authority having jurisdiction thereover, upon, against or become a lien with respect to the rentals payable by tenants in Airside Commerce Park or liens upon with respect to the Leased Premises Lessor's, or the individuals' or entities' which form the Lessor herein, ownership of the land and buildings presently and/or at any time during the term of the Lease comprising the AIRSIDE COMMERCE PARK, or on the receipt by Lessor of any payments from Lessee, or on the income of Lessor derived from Airside Commerce Park either by way of substitution for all or any part thereof of the taxes and assessments levied or upon the rents payable hereunderassessed against such land and such buildings, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent paid by Lessee or in addition to the Rent defined at Article 4 hereof. Lessee thereto, or any other tax or assessment assessed by any proper taxing authority on Lessor's leasehold interest or on any improvements on such leasehold interest, shall be deemed to have complied constitute a tax and/or assessment against such land and such buildings for the purpose of this Section and Lessee shall be obligated to pay its proportionate share thereof as provided herein. In addition, Lessee shall also be obligated to pay any sales tax or any other tax imposed by any governmental authority on the payment by Lessee or on the receipt by Lessor of any and all payments from Lessee. If the sales tax or any other tax is separately assessed, then Lessee shall pay that amount imposed on the individual payments of Lessee, if the sales tax or any other tax is not separately assessed, the Lessee shall pay its proportionate share monthly as provided-herein. All costs and expenses incurred by Lessor in connection with negotiations for, or contests, (including litigation) of the foregoing covenant if payment is permitted without penalty amount of the taxes shall be included within the term taxes.
Section 5.02: Lessee's share of all of the aforesaid taxes and assessments levied or interestassessed for or during the term hereof, as determined by Lessor, shall be paid in monthly installments on or before the same shall become a lien upon first day of each calendar month, in advance, in an amount estimated by Lessor; provided, that in the Leased Premises. If by law event Lessor is required under any mortgage covering the land and improvements leased to Lessee to escrow real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner use the amount required to be so escrowed as may be legal, a basis for its estimate of the monthly installments due from Lessee hereunder. Upon receipt of all tax bills and at Lessor's own expense, assessment bills attributable to any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or reviewcalendar year during the term hereof, Lessor shall furnish Lessee with a written statement of the actual amount of Lessee's share of the taxes and assessments for such year. In the event no tax bill xx available, Lessor will compute the amount of such tax. If the total amount paid by Lessee under this Section for any calendar year during the term of this Lease shall be entitled less than the actual amount due from Lessee for such year, as shown on such statement, Lessee shall pay to receive Lessor the difference between the amount paid by Lessee and retain the actual amount due, such deficiency to be paid within ten (10) days after demand therefor by Lessor; and if the total amount paid by Lessee hereunder for any such calendar year shall exceed such actual amount due from Lessee for such calendar year, such excess shall be credited against the next installment of taxes and assessments due from Lessee to Lessor hereunder. All amounts due hereunder shall be payable to Lessor at the place where the monthly rental is payable. For the calendar years in which this Lease commences and terminates, the provisions of this Section shall apply, and Lessee's liability for its proportionate share of any taxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar years during which the term of this Lease is in effect. A copy of a tax bill xx assessment bill xxxmitted by Lessor to Lessee shall at all times be sufficient evidence of the amount of tax and/or assessments assessed or levied `against the property to which such bill xxxates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, Lessor shall notify Lessee in writing of Lessor's estimate of Lessee's monthly installments due hereunder. Lessor's and Lessee's obligations under this Section shall survive the expiration of the term of this Lease. Notwithstanding anything in this Section 5 to the contrary, all costs and expenses incurred by Lessor in connection with negotiations for, or contests (including litigation) of, the amount of the Taxes shall be included within the term "Taxes". In the event a refund payable is obtained, Lessor shall credit a portion thereof to "the next installment of taxes due from Tenant in proportion to the share of such Taxes originally paid by Tenant from which the refund was derived. In addition to the foregoing, Tenant at all times shall be responsible for and shall pay, before delinquency, all taxes levied, assessed or unpaid on any leasehold interest, any right of occupancy, any investment of Tenant in the Leased Premises, or any personal property of any kind owned, installed or used by Tenant, including Tenant's leasehold improvements or on Tenant's right to occupy the Leased Premises.
Section 5.03: Lessee shall be solely responsible for and shall promptly pay all charges for utility services (including but not limited to water, gas, heat, electricity, telephone and sewer), furnished to or consumed at the Leased Premises. If Lessor shall elect to supply any utility services to the Leased Premises, Lessor shall charge Lessee for such utility services at the applicable rates filed by Lessor with the proper regulatory authorities and in effect from time to time covering such services, but no more than the rates which would be charged by the governmental authority with respect thereto.
local utility company. Payment for any and all utility services used by Lessee shall be made within ten (F10) days of the presentation of bills therefor. Lessor shall have the right to cut off and discontinue, without notice to Lessee, utility services or any other service whenever and during any period for which bills for the same or for rent or other obligations are not promptly paid by Lessee. The obligation of Lessee to pay for all such utility services shall commence at the date of delivery of possession of the Leased Premises to Lessee. Lessor shall not be liable in damages or otherwise, should the furnishing of any services by it to the Leased Premises be interrupted for any reason not attributable to the gross, willful or wanton negligence of Lessor.
Section 5.04: In the event any or all of the foregoing utilities are to be paid from an escrow fund required to join in be established by Lessor or its financial institution under the terms of any proceeding financing, the Lessor shall notify Lessee and Lessee shall be required to include with the additional monthly payments referred to in this ArticleSection 5.02 a monthly amount to satisfy the estimated monthly utility costs. If the utilities, unless when due, exceed the total amount then in the utility escrow, then the Lessee shall, upon demand, pay any deficiency to Lessor. If such payments by Lessee's reasonable opinion, over the provisions term of any lawthe Lease, ruleexceed the amount of utilities paid from the escrow, such excess shall be refunded by Lessor to Lessee at the expiration of the Lease Term, or regulation at when such excess is refunded by the time in effect shall require that such a proceeding be brought by and/or in the name of financial institution to Lessor, in which event Lessor whichever first occurs. The utility escrow shall upon written request, join in such proceedings or permit the same be adjusted as often as necessary to be brought in its nameprovide sufficient funds to pay current utilities.
Appears in 1 contract
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Lessee notice ox xxch estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee For the Term, Landlord shall be liableobligated for and shall pay all personal property or real property taxes levied against the Leased Premises and the Land, and agrees except that Tenant shall be obligated to pay any personal property taxes levied against the charges for, Project for the portion of the first calendar year beginning after the Commercial Operations Date and for all public utility services rendered or furnished calendar years thereafter during the Term. If Landlord is assessed any taxes related to the existence of the Project on the Leased Premises, including heatLandlord shall immediately notify Tenant. Landlord and Tenant shall cooperate in contesting any such assessment at Landlord’s sole cost and expense; provided that Landlord shall pay such taxes to avoid any penalties or interest on such taxes, watersubject to reimbursement by Xxxxxx. If after the resolution of the matter, gassuch tax is found to be properly imposed upon Tenant, electricityTenant shall reimburse Landlord for such tax upon written notice by Xxxxxxxx. For the avoidance of all doubt, sewerin no event shall Tenant be required to pay, sewage treatment facilities directly or indirectly, any inheritance, estate, or profit taxes that are or may be imposed upon Landlord, its successors or assigns, and in all events Landlord shall be responsible to pay that portion of the like, all personal real property taxes, real estate taxesif any, special assessments, and municipal or government charges, general, ordinary and extraordinary, assessed with respect to the value of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after on the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon Land located outside the Leased Premises and not constructed by or on behalf of Tenant. . Further, notwithstanding any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term provision of this Lease. Lessee Section 4.2, Tenant shall not be liable obligated to pay for installments which come due after the termination date of the Lease. If due (i) any income taxes attributable to a change Landlord; or (ii) any increase in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession assessed value of the Leased Premises in said respective for tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is duepurposes.
(Da) Lessee shall have the right All (i) tax credits, tax incentives or tax related grants or benefits and any and all property tax abatement pursuant to contest or review by legal proceedings or in such other manner as may be legal Applicable Law (which, if instituted, shall be conducted solely at Lessee's own expense“Property Tax Provisions”) any tax, assessment for public improvements or benefits, and (ii) renewable energy credits or other governmental imposition aforementionedenvironmental attributes, at any time until credits or incentives, in each case, relating to the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items Project are, and shall be prosecuted to final adjudication with reasonable dispatch. In remain, the event sole property of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this LeaseTenant.
(Eb) LessorLandlord shall reasonably cooperate with Tenant, within sixty (60) days after notice to Lessee if Lessee fails minimize any taxes related to commence such proceedingsthe Project that are due from Tenant, mayincluding without limitation, but taking any steps necessary to reasonably assist in the securing of property tax exemptions pursuant to the Property Tax Provisions. Further Landlord represents that it has not claimed, and shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expenseclaim, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by exemptions under Property Tax Provisions without the governmental authority with respect theretoexpress written consent of the Tenant.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name.
Appears in 1 contract
Samples: Land Lease
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised. Real estate taxes shall not include income, intangible, franchise, capital stock, or inheritance taxes or taxes substituted in lieu thereof.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunderthereof. Lessee may pay such real estate taxes, except for taxes based solely upon the income of Lessorassessments, impositions, duties, and charges in installments if allowed by law. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Lessxx xotice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, excise tax, or similar tax on Rents imposed by the State where the Leased Premises are located. In no event shall Lessee be liable for any income tax or fees charged foreign limited partnerships or their general partners as a requisite for doing business in Georgia. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any (though none as of the effective date hereof is presently imposed or assessed) estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax imposed by a governmental authority on Rent payable hereunder. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of the amount of such sales tax payable annually, as reasonably estimated by Lessor ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the appropriate governmental entity as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect. Lessee shall also pay to Lessor, as additional Rent, the amount of any sales, use, or other tax imposed on or measured by any Rent paid hereunder. Such sales, use, or other tax shall be paid by Lessee to Lessor at the same time as payment of any installment of Base Rent is made.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents Rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expenses of Lessor in such proceeding, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, and tax or fees charged foreign limited partnerships or their general partners as a requisite for doing business in the state where the Leased Premises are located, arising out of or relating to the income derived from this Lease. If such a tax on Rent is enacted in Louisiana, at Lessor's option, and to the extent that the same are subject to sales tax, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect. Lessee shall also pay to Lessor, as additional Rent, the amount of any sales, use, or other tax imposed on or measured by any Rent paid hereunder. Such sales, use, or other tax shall be paid by Lessee to Lessor at the same time as payment of any installment of Base Rent is made.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall givx Xxssee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund Xv LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents Rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expenses of Lessor in such proceeding, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, and tax or fees charged foreign limited partnerships or their general partners as a requisite for doing business in the state where the Leased Premises are located, arising out of or relating to the income derived from this Lease. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect. Lessee shall also pay to Lessor, as additional Rent, the amount of any sales, use, or other tax imposed on or measured by any Rent paid hereunder. Such sales, use, or other tax shall be paid by Lessee to Lessor at the same time as payment of any installment of Base Rent is made.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund Xviii Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax xxxx. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee?s pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Xxxsee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund Xvii Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Section 4.01: Lessee shall be liable, and agrees to pay the charges for, Lessor its proportionate share of all public utility services rendered taxes and assessments which have been or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, levied or assessed against the Leased Premisesby any lawful authority, or upon for any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of calendar year during the term hereof, or against the land and Leased Premises presently and/or at any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, time during the term of this LeaseLease comprising the Building. Lessee's proportionate share shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be chargedthe number of square feet of floor area in the Leased Premises, laid, levied, assessed, and the denominator of which shall be the total number of square feet of constructed leasable floor area in the Building. Any tax and/or assessment of any kind or nature presently or hereafter imposed by the State of Michigan or any political subdivision thereof or any governmental authority having jurisdiction there over upon, against or become a lien with respect to the rentals payable by tenants in the Building to Lessor or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon on the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition Lessor derived from the Building or with respect to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interestLessor's, or before the same shall become a lien upon individuals or entities which form the Leased Premises. If by law any real estate taxesLessor herein, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option ownership of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments land and shall pay such installments as they become due buildings presently and/or at any time during the term of this Lease. Lessee shall not be liable Lease comprising the Building, either by way of substitution for installments which come due after the termination date all or any part of the Lease. If due to a change in the method of taxation, a franchise tax, rental taxtaxes and assessments levied or assessed against such land and such buildings, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate taxaddition thereto, such tax shall be deemed to constitute a real estate tax and/or assessment against such land and such buildings for the purposes herein purpose of this Section, and Lessee shall be obligated to pay its proportionate share thereof as provided herein. In addition, Lessee shall also be obligated to pay any sales tax imposed by any governmental authority on the payments by Lessee or on the receipt by Lessor of any and all payments from Lessee. If the sales tax is separately assessed, then Lessee shall pay that amount imposed on the individual payments of Lessee; if the sales tax is not separately assessed, the Lessee shall pay its proportionate share monthly as provided herein. 5745 (Lessee's square feet) / 28,776 (square feet of building) = .1996 (Lessee's share)
Section 4.02: Lessee's share of all of the aforesaid taxes and assessments levied or assessed for or during the teen hereof; as determined by Lessor, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Lessee.
(C) All Lessor; provided, that in the event Lessor is required under any mortgage covering the land and improvements Leased to Lessee to escrow real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner use the amount required to be so escrowed as may be legal, a basis for its estimate of the monthly installments due from Lessee hereunder. Upon receipt of all tax bills and at Lessor's own expense, assessment bills attributable to any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or reviewcalendar year during the term hereof, Lessor shall be entitled to receive and retain any refund payable by furnish Lessee with a written statement of the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in actual amount of Lessee's reasonable opinionshare of the taxes and assessments for such year. In the event no tax xxxx is available, Lessor will compute the amount of such tax. If the total amount paid by Lessee under this Section for any such year, as shown oil such statement, Lessee shall pay to Lessor the difference between the amount paid by Lessee and the actual amount due, such deficiency to be paid within thirty (30) days after demand therefore by Lessor; and if the total amount paid by Lessee hereunder for such calendar year shall exceed such actual amount due from Lessee for such calendar year, such excess shall be credited against the next installment of taxes and assessments due from Lessee to Lessor hereunder. All amounts due hereunder shall be payable to Lessor at the place where the fixed annual rental is payable. For the calendar years in which this Lease commences and terminates, the provisions of this Section shall apply, and Lessee's liability for its proportionate share of any lawtaxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar years during which the term of this Lease is in effect. A copy of a tax xxxx or assessment xxxx submitted by Lessor to Lessee shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such xxxx relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof, ruleLessor shall notify Lessee, in writing, or regulation Lessor's estimate of Lessee's monthly installments due hereunder. Lessor's and Lessee's obligations under this Section shall survive the expiration of the term of this Lease.
Section 4.03: Lessee also agrees to pay all charges made against the Leased Premises for gas, heat, electricity, and all other utilities separately metered during the continuance of this Lease as the same shall become due.
Section 4.04: In the event any or all of the foregoing utilities are to be paid from an escrowed funds required to be established by Lessor or its financial institution under the terms of any financing, the Lessor shall notify Lessee and Lessee shall be required to include with the additional monthly payments referred to in Section 4.02 a monthly amount to satisfy the estimated monthly utility costs. If the utilities, when due, exceed the total amount then in the utility escrow, then the Lessee shall, upon demand, pay any deficiency to Lessor. If such payments by Lessee, over the term of the Lease, exceed the amount of utilities paid from the escrow, such excess shall be refunded by Lessor to Lessee at the time in effect shall require that expiration of the Lease term, or when such a proceeding be brought excess is refunded by and/or in the name of financial institution to Lessor, in which event Lessor whichever first occurs. The utility escrow shall upon written request, join in such proceedings or permit the same be adjusted as often as necessary to be brought in its nameprovide sufficient funds to pay current utilities.
Appears in 1 contract
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax xxxx. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days prior to the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee;s pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Section 4.01: Lessee shall be liable, and agrees to pay the charges for, Lessor its proportionate share of all public utility services rendered taxes and assessments which have been or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, levied or assessed against the Leased Premisesby any lawful authority, or upon for any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of calendar year during the term hereof, or against the land and Leased Premises presently and/or at any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, time during the term of this LeaseLease comprising the Building. Lessee's proportionate share shall be equal to the product obtained by multiplying such taxes and assessments by a fraction, the numerator of which shall be chargedthe number of square feet of floor area in the Leased Premises, laid, levied, assessed, and the denominator of which shall be the total number of square feet of constructed leasable floor area in the Building. Any tax and/or assessment of any kind or nature presently or hereafter imposed by the State of Michigan or any political subdivision thereof or any governmental authority having jurisdiction there over upon, against or become a lien with respect to the rentals payable by tenants in the Building to Lessor or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon on the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition Lessor derived from the Building or with respect to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interestLessor's, or before the same shall become a lien upon individuals or entities which form the Leased Premises. If by law any real estate taxesLessor herein, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option ownership of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments land and shall pay such installments as they become due buildings presently and/or at any time during the term of this Lease. Lessee shall not be liable Lease comprising the Building, either by way of substitution for installments which come due after the termination date all or any part of the Lease. If due to a change in the method of taxationtaxes and assessments levied or assessed against such land and such buildings, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed to constitute a real estate tax and/or assessment against such land and such buildings for the purposes herein purpose of this Section, and Lessee shall be obligated to pay its proportionate share thereof as provided herein. In addition, Lessee shall also be obligated to pay any sales tax imposed by any governmental authority on the payments by Lessee or on the receipt by Lessor of any and all payments from Lessee. If the sales tax is separately assessed, then Lessee shall pay that amount imposed on the individual payments of Lessee; if the sales tax is not separately assessed, the Lessee shall pay its proportionate share monthly as provided herein.
Section 4.02: Lessee's share of all of the aforesaid taxes and assessments levied or assessed for or during the term hereof, as determined by Lessor, shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount estimated by Lessee.
(C) All Lessor, provided, that in the event Lessor is required under any mortgage covering the land and improvements leased to Lessee to escrow real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner use the amount required to be so escrowed as may be legal, a basis for its estimate of the monthly installments due from Lessee hereunder. Upon receipt of all tax bills and at Lessor's own expense, assessment bills attributable to any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or reviewcalendar year during the term hereof, Lessor shall be entitled to receive and retain any refund payable by furnish Lessee with a written statement of the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in actual amount of Lessee's reasonable opinionshare of the taxes and assessments for such year. In the event no tax xxxx is available, Lessor will compute the amount of such tax. If the total amount paid by Lessee under this Section for any such year, as shown on such statement, Lessee shall pay to Lessor the difference between the amount paid by Lessee and the actual amount due, such deficiency to be paid within thirty (30) days after demand therefore by Lessor, and if the total amount paid by Lessee hereunder for such calendar year shall exceed such actual amount due from Lessee for such calendar year, such excess shall be credited against the next installment of taxes and assessments due from Lessee to Lessor hereunder. All amounts due hereunder shall be payable to Lessor at the place where the fixed annual rental is payable. For the calendar years in which this Lease commences and terminates, the provisions of this Section shall apply, and Lessee's liability for its proportionate share of any lawtaxes and assessments for such years shall be subject to a pro rata adjustment based on the number of days of said calendar years during which the term of this Lease is in effect A copy of a tax xxxx or assessment xxxx submitted by Lessor to Lessee shall at all times be sufficient evidence of the amount of taxes and/or assessments assessed or levied against the property to which such xxxx relates. Prior to or at the commencement of the term of this Lease and from time to time thereafter throughout the term hereof; Lessor shall notify Lessee, rulein writing, or regulation Lessor's estimate of Lessee's monthly installments due hereunder. Lessors and Lessee's obligations under this Section shall survive the expiration of the term of this Lease.
Section 4.03: Lessee also agrees to pay all charges made against the Leased Premises for gas, heat, electricity, and all other utilities separately metered during the continuance of this Lease as the same shall become due.
Section 4.04: In the event any or all of the foregoing utilities are to be paid from an escrowed fund required to be established by Lessor or its financial institution under the terms of any financing, the Lessor shall notify Lessee and Lessee shall be required to include with the additional monthly payments referred to in Section 4.02 a monthly amount to satisfy the estimated monthly utility costs. If the utilities, when due, exceed the total amount then in the utility escrow, then the Lessee shall, upon demand, pay any deficiency to Lessor. If such payments by Lessee, over the term of the Lease, exceed the amount of utilities paid from the escrow, such excess shall be refunded by Lessor to Lessee at the time in effect shall require that expiration of the Lease term, or when such a proceeding be brought excess is refunded by and/or in the name of financial institution to Lessor, in which event Lessor whichever first occurs. The utility escrow shall upon written request, join in such proceedings or permit the same be adjusted as often as necessary to be brought in its nameprovide sufficient funds to pay current utilities.
Appears in 1 contract
Samples: Lease Agreement (Arotech Corp)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee 5.1 The Tenant shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, assessments and municipal or government charges, generalgeneral and special, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, imposed or assessed against the Leased Premises, or upon any improvements thereon, due and payable at any time after the Occupancy Commencement Date of this Lease and prior to the expiration of the term hereofLease Term, or any Renewal Option Term.
(B) Lessee 5.2 The Tenant shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, duties and charges of every kind and nature whatsoever which shall or may, during the term of this LeaseLease Term, be chargedbecome due or payable, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorreal estate described in EXHIBIT "A". Such payments shall may be considered as additional rent paid by Lessee in addition to the Rent defined at Article 4 hereofTenant. Lessee The Tenant shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, duties and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee the Tenant may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the LeaseLease Term. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor Landlord in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by LesseeTenant. If any Mortgagee or holder of a deed of trust shall require Landlord to escrow the amount of such taxes and assessments on a monthly basis, Tenant shall then pay Landlord such amounts on a similar monthly basis.
(C) 5.3 All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, rents and other governmental impositions, duties, duties and charges which shall become payable for the first and last tax years of the term hereof Lease Term shall be apportioned pro rata between Lessor the Landlord and Lessee the Tenant in accordance with the respective number of months days during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee 5.4 The Tenant shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at LesseeTenant's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding the property is subject Tenant shall pay (under protest) such tax, assessment for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to levy such contest or executioninterfere materially with the prosecution thereof and in such event Tenant shall post with Landlord alternative security satisfactory to Landlord. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee the Tenant shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee the Tenant shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this LeaseLease Term.
(E) Lessor5.5 The Landlord, within sixty (60) days after notice to Lessee Tenant if Lessee Tenant fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessorthe Landlord's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lesseethe Tenant, and unless Lessee the Tenant shall promptly join with Lessor the Landlord in such contest or review, Lessor the Landlord shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor 5.6 The Landlord shall not be required to join in any proceeding referred to in this ArticleSection 5, unless in Lesseethe Tenant's reasonable opinion, the provisions of any law, rule, rule or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessorthe Landlord, in which event Lessor the Landlord shall upon written request, join in such proceedings or permit the same to be brought in its name.
5.7 Nothing herein contained shall require or be construed to require Tenant to pay any inheritance, estate, succession, transfer, gift, franchise, income or profit tax that is or may be imposed upon the Landlord, its successors or assigns.
Appears in 1 contract
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liableliable for, and agrees to pay at or before the due date thereof, the charges for, all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time from and after the Occupancy Date of this Lease and prior to the expiration of the term hereofTerm, or including any Renewal Term. Such payments shall be due and payable as rent paid by Lessee in addition to the Rent defined at Article 4 hereof.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term Term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered due and payable as rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is made by Lessee within the time when payment is permitted without penalty or interest, or and before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term Term of this Lease. Lessee shall not be liable for a pro rata portion of any installments which come due after the termination date expiration of the LeaseLease Term, to the extent such installments relate to a period prior to such expiration, and Lessor shall be liable for the pro rata portion of any installments which becomes due after the expiration of the Lease Term, to the extent such installments relate to a period after such expiration. If due to a change in the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof Term shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term Term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall gixx Xessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund Xviii Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration or earlier termination of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents Rents payable hereunderhereunder (expressly excluding general income taxes, except for franchise taxes, inheritance taxes based solely and estate taxes imposed upon the income of Lessor). Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a Rent tax (expressly excluding general income taxes, franchise taxtaxes, rental tax, or income or profit tax inheritance taxes and estate taxes imposed upon Lessor) shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first each payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall either (i) pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, or (ii) post with Lessor alternative security reasonably satisfactory to Lessor, not to exceed 150% of the property is subject to levy or executionamount contested and the potential penalties and interest thereon. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expenses of Lessor, if any, in such proceeding, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Income & Growth Fund 25 LLC)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee Xxxxxx in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Xxxxxx's reasonable estimate of Xxxxxx's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Xxxxxx shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Development Financing and Leasing Commitment (Aei Income & Growth Fund 23 LLC)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, and agrees to pay the charges for, all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term.
(B) Lessee 5.1 Tenant shall pay all real estate and personal property taxes and assessments, general or special, levied against (a) this Lease or any right, title or interest of Tenant in the Premises and (b) the Facility, including, without limitation, any possessory interest, license, production, severance or excise taxes, assessments for public improvements but excluding income, inheritance and estate taxes (collectively, "TENANT'S TAXES"); provided, however, that Landlord shall pay all real and personal property taxes and assessments, general or benefitsspecial, and other governmental impositionslevied against (i) any right, dutiestitle or interest of Landlord in the Reserved Area and/or (ii) any of Landlord's Facilities.
5.2 Tenant shall pay all Tenant's Taxes before delinquency, and charges whether chargeable against Landlord or Tenant. Tenant shall make all payments of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition Tenant's Taxes directly to the Rent defined charging Governmental Authority before delinquency and before any fine, interest or penalty shall become due or be imposed by operation of Law for their nonpayment, and, at Article 4 hereofthe election of Landlord to be exercised from time to time by notice to Tenant, shall either be paid to Landlord or directly to the charging Governmental Authority. Lessee shall be deemed to have complied with If the foregoing covenant if payment of any or all of the Tenants Taxes in installments is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue accrues on the unpaid balance), Lessee may exercise Tenant may, at Tenant's election, utilize the option to pay the same in installments and permitted installment method, but shall pay such installments as they become due during each installment (with any interest) before delinquency.
5.3 All payments of Tenant's Taxes shall be prorated, on the term basis of this Lease. Lessee shall not be liable a 365-day year, for installments which come due after the termination date applicable portion of the Lease. If due to a change in tax fiscal years at the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein commencement and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years expiration of the term of this Lease.
5.4 If Tenant's Taxes are assessed together with the taxes assessed against the assets described in clauses (Ei) Lessorand (ii) of Section 5.1 hereof or together with taxes on any other real or personal property of Landlord or any other Person, within sixty (60) days after notice to Lessee if Lessee fails to commence then Landlord shall, in good faith, separate out Tenant's Taxes from such proceedingsother taxes, mayusing any reasonable method of allocation as Landlord may determine.
5.5 Tenant may contest the legal validity or amount of any of Tenant's Taxes, and may institute such proceedings as Tenant considers necessary or appropriate in connection therewith. If Tenant contests any of Tenant's Taxes, then Tenant may withhold or defer payment or pay under protest, but shall not protect Landlord, the Premises, the Facility and Landlord's Facilities from and against any tax lien imposed in connection with such non-payment, by surety bond or other appropriate security reasonably acceptable to Landlord.
5.6 Tenant shall pay, before the same become delinquent, all charges for gas, electricity, sewage, water, telephone, trash removal and other similar or dissimilar public services or commodities furnished to the Facility Site and/or the Facility during the term of this Lease, including all installation, connection and disconnection charges.
5.7 It is the intent of the parties hereto that the rent provided in this Lease shall be obligated toabsolutely net to Landlord with respect to the Facility Site, contest or review by legal proceedingsand that, except as otherwise expressly provided in this Lease, Tenant shall pay all costs and charges of every kind and nature incurred for, against, or in such other manner as connection with the Facility Site which may be legalarise or become due from and after the Effective Date and during the term hereof, including, without limitation, all Tenant's Taxes, utilities, insurance premiums and at Lessor's own expensemaintenance costs; provided, any taxhowever, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name.nothing herein shall
Appears in 1 contract
Samples: Ground Lease (Ce Generation LLC)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the before delinquency all charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, like ("Utility Charges");
(B) Lessee shall pay all personal property taxestaxes attributable to its personalty on the Leased Premises, all real estate taxes, special assessments, and municipal or government other governmental impositions, duties, and charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term Term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements if exercised, or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term Term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor("Taxes"). Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee Nothing contained in this Lease, however, shall be deemed or construed to have complied with include within Taxes: (i) any transfer, documentary or stamp tax; (ii) any tax upon the foregoing covenant if payment is permitted without penalty income, profits or interestbusiness of Lessor (other than any sales or other such tax that may be imposed on the Rent itself or any additional rent); (iii) any personal property taxes, capital levy, or before franchise taxes which are imposed on any propertyOwned by lessor other than the same shall Leased Premises; or (iv) payroll taxes, inheritance or estate taxesImposed on Lessor even though such taxes may become a lien upon against the Leased Premises. If by law any real estate taxes; provided, assessments for public improvements or benefitshowever, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If if due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor. Lessee shall make any payments of Taxes on or before the later of (i) the due date thereof or (ii) thirty (30) days after Lessor provides Lessee with a copy of the tax bill therefor (if sent xxxxctly to Lessor by the taxing authority). Lessor shall be responsible for any interest or penalties caused by its delay in forwarding any tax bills to Lessee. The Leased Premises shall be separately assessed and a tax bill issued to Lessee sxxxxate from any other property if permitted under applicable law. Lessor and Lessee shall cooperate in providing to the taxing authority all necessary documentation to request that such tax bill be issued directly xx Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges Taxes which shall become payable for the first and last tax years of the term Term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the Term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the Term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the Term hereof, based upon the last available tax bill. Lessor shalx xive Lessee notice of such estimated pro-rata real estate taxes no later than 75 days prior to the end of the Term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term Term of this Lease. If any general or special assessment is assessed against the Leased Premises, Lessor shall elect to pay the assessment in installments over the longest period of time allowed by applicable law, and only those installments (or partial installments) attributable to the Term of this Lease shall be considered in determining Lessee's tax liability for such assessment.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) In the event Lessee fails to pay such taxes, within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the Term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
(H) Lessor shall provide Lessee with a copy of any increased tax assessment within thirty (30) days of its receipt. Lessee shall have the right to contest any assessment or the validity of any tax, provided that Lessee shall indemnify, defend and hold Lessor and the Leased Premises harmless from any cost, expense, liability, lien or damage arising out of such contest.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the before delinquency all charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, like ("Utility Charges");
(B) Lessee shall pay all personal property taxestaxes attributable to its personalty on the Leased Premises, all real estate taxes, special assessments, and municipal or government other governmental impositions, duties, and charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term Term hereof, or any Renewal Term.
(B) Lessee shall pay all real estate taxes, assessments for public improvements if exercised, or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term Term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor("Taxes"). Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee Nothing contained in this Lease, however, shall be deemed or construed to have complied with include within Taxes: (i) any transfer, documentary or stamp tax; (ii) any tax upon the foregoing covenant if payment is permitted without penalty income, profits or interestbusiness of Lessor (other than any sales or other such tax that may be imposed on the Rent itself or any additional rent); (iii) any personal property taxes, capital levy, or before franchise taxes which are imposed on any property other than the same shall Leased Premises; or (iv) payroll taxes, inheritance or estate taxes Imposed on Lessor even though such taxes may become a lien upon against the Leased Premises. If by law any real estate taxes; provided, assessments for public improvements or benefitshowever, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If if due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor. Lessee shall make any payments of Taxes on or before the later of (i) the due date thereof or (ii) thirty (30) days after Lessor provides Lessee with a copy of the tax bill therefor (if sent xxxxctly to Lessor by the taxing authority). Lessor shall be responsible for any interest or penalties caused by its delay in forwarding any tax bills to Lessee. The Leased Premises shall be separately assessed and a tax bill issued to Lessee sxxxxate from any other property if permitted under applicable law. Lessor and Lessee shall cooperate in providing to the taxing authority all necessary documentation to request that such tax bill be issued dirxxxxy to Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges Taxes which shall become payable for the first and last tax years of the term Term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the Term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the Term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the Term hereof, based upon the last available tax bill. Lessor shalx xive Lessee notice of such estimated pro-rata real estate taxes no later than 75 days prior to the end of the Term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term Term of this Lease. If any general or special assessment is assessed against the Leased Premises, Lessor shall elect to pay the assessment in installments over the longest period of time allowed by applicable law, and only those installments (or partial installments) attributable to the Term of this Lease shall be considered in determining Lessee's tax liability for such assessment.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(A) In the event Lessee fails to pay such taxes, within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the Term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
(H) Lessor shall provide Lessee with a copy of any increased tax assessment within thirty (30) days of its receipt. Lessee shall have the right to contest any assessment or the validity of any tax, provided that Lessee shall indemnify, defend and hold Lessor and the Leased Premises harmless from any cost, expense, liability, lien or damage arising out of such contest.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Income & Growth Fund 23 LLC)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall xxxx Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee;s pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Income & Growth Fund 24 LLC)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax xxxx. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee SECTION 3.1. Landlord shall be liable, and agrees to pay the charges for, responsible for all public utility services rendered or furnished real property taxes applicable to the Leased Premises, including heat, Property.
SECTION 3.2. Tenant shall pay for all water, gas, electricity, heat, light, power, telephone, sewer, sewage treatment facilities sprinkler services, refuse and trash collection and other utilities and services used on the likeLeased Property, all personal property maintenance charges for utilities, and any storm sewer charges or other similar charges for utilities imposed by any governmental entity or utility provider, together with any taxes, real estate taxespenalties, special assessments, and municipal surcharges or government charges, general, ordinary and extraordinary, the like pertaining to Tenant’s use of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased PremisesProperty. To the extent any utilities are not currently separately metered, Landlord may cause at Tenant’s expense any utilities to be separately metered or upon any improvements thereoncharged directly to Tenant by the provider. If not separately metered to Tenant, at any time after Tenant shall reimburse Landlord for such charges within ten (10) days of Landlord’s delivery of an invoice to Tenant. No interruption of failure of utilities shall result in the Occupancy Date termination of this Lease and prior or the abatement of Rent (as defined below). Landlord makes no representations or warranties that the utilities currently available to the expiration Leased Property are sufficient for Tenant’s use and proposed business operations. If such utilities are not sufficient, any expense that Tenant incurs in establishing, upgrading or enhancing utility service to the Leased Property shall be solely for the account of the term hereofTenant. In the event the utilities are separately metered, or any Renewal Term.
(B) Lessee Landlord and Tenant shall place in Tenant’s name all separately metered utilities and Tenant shall timely pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and utility charges of every kind and nature whatsoever which shall or may, used on the Leased Property by Tenant during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term Term of this Lease. Lessee Tenant shall not be liable for installments which come due after the termination date provide proof of payment of such utility charges upon Landlord’s reasonable request.
SECTION 3.3. All of the Leaseitems to be paid by Tenant under Articles 2, 3 or any other amount due and payable by the Tenant under the Lease may be referred to thereafter as “Additional Rent”. If due Base Rent and Additional Rent may be referred to a change in hereafter collectively as the method of taxation, a franchise tax, rental tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein “Rent”. Tenant covenants and agrees that Base Rent and Additional Rent shall be paid by Lessee.
(C) All real estate taxeswithout abatement, assessments for public improvements set-off, or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which deduction. If Tenant shall become payable for the first and last tax years fail or refuse to make any of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number payments required herein or defaults on any of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of its conditions or obligations under this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until the property is subject to levy or execution. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, Lease and, if there shall be any refund payable by the governmental authority with respect theretopursuant to Section 11, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, then Landlord may, but shall not be obligated required to, contest or review by legal proceedingspay the same and the amount of money so paid, including but not limited to all expenses, fees, costs and reasonable attorney's fees which have been incurred because of or in connection with such other manner as payments. The payment thereof shall bear interest at the lesser of 5% per annum or the maximum allowed by law until paid in full and may be legal, collected or enforced by the Landlord as “Additional Rent,” due upon the day when the Landlord demands payment thereof or reimbursement therefor of and at Lessor's own expense, from the Tenant. The election of Landlord hereunder to pay any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which such obligation of Tenant shall not be contested waive the default committed by Xxxxxx and Tenant waives and releases Landlord from any obligation to correct in mitigation of actual or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect theretopotential damages.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name.
Appears in 1 contract
Samples: Lease Agreement
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee Xxxxxx in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Xxxxxx's reasonable estimate of Xxxxxx's pro-rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall give Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Xxxxxx shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Development Financing and Leasing Commitment (Aei Real Estate Fund Xviii Limited Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents Rents payable hereunder, except for taxes based solely upon the income of Lessor. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental tax, tax or income or profit Rent tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises in said respective tax years. For the purposes of this provision, all personal property taxes, real estate taxes and special assessments shall be deemed to have been assessed in the year that the first each payment or any installment thereof is due.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expenses of Lessor in such proceeding, Lessee shall be entitled to receive and retain the same, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, and tax or fees charged foreign limited partnerships or their general partners as a requisite for doing business in the state where the Leased Premises are located, arising out of or relating to the income derived from this Lease. If such a tax on Rent is enacted in Texas, at Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect. Lessee shall also pay to Lessor, as additional Rent, the amount of any sales, use, or other tax imposed on or measured by any Rent paid hereunder. Such sales, use, or other tax shall be paid by Lessee to Lessor at the same time as payment of any installment of Base Rent is made.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund Xv LTD Partnership)
TAXES, ASSESSMENTS AND UTILITIES. (A) Lessee shall be liable, liable and agrees to pay the charges for, for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease and for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.
(B) Lessee shall pay all real estate taxes, assessments for public improvements or benefits, and other governmental impositions, duties, and charges of every kind and nature whatsoever which shall or may, during the term of this Lease, be charged, laid, levied, assessed, or imposed upon, or become a lien or liens upon the Leased Premises or any part thereof or upon the rents payable hereunder, except for taxes based solely upon the income of Lessorthereof. Such payments shall be considered as rent Rent paid by Lessee in addition to the Rent defined at Article 4 hereof. Lessee shall be deemed to have complied with the foregoing covenant if payment is permitted without penalty or interest, or before the same shall become a lien upon the Leased Premises. If by law any real estate taxes, assessments for public improvements or benefits, or other governmental impositions, duties, and charges of every kind and nature whatsoever may at the option of the taxpayer be paid in installments (whether or not interest shall accrue on the unpaid balance), Lessee may exercise the option to pay the same in installments and shall pay such installments as they become due during the term of this Lease. Lessee shall not be liable for installments which come due after the termination date of the Lease. If due to a change in the method of taxation, a franchise tax, rental Rent tax, or income or profit tax shall be levied against Lessor in substitution for or in lieu of any tax which would otherwise constitute a real estate tax, such tax shall be deemed a real estate tax for the purposes herein and shall be paid by Lessee; otherwise Lessee shall not be liable for any such tax levied against Lessor.
(C) All real estate taxes, assessments for public improvements or benefits, water rates and charges, sewer rents, and other governmental impositions, duties, and charges which shall become payable for the first and last tax years of the term hereof shall be apportioned pro rata between Lessor and Lessee in accordance with the respective number of months during which each party shall be in possession of the Leased Premises (or through the expiration of the term hereof, if longer) in said respective tax years. For Lessee shall pay within 60 days of the purposes expiration of this provision, all personal property taxes, the term hereof Lessor's reasonable estimate of Lessee's pro- rata share of real estate taxes for the last tax year of the term hereof, based upon the last available tax bill. Lessor shall gxxx Lessee notice of such estimated pro-rata real estate taxes no later than 75 days from the end of the term hereof. Upon receipt of the actual statement of real estate taxes for such prorated period, Lessor shall either refund to Lessee any over payment of the pro-rata Lessee obligation, or shall assess and special assessments Lessee shall be deemed to have been assessed in pay promptly upon notice any remaining portion of the year that the first payment or any installment thereof is dueLessee's pro-rata obligation for such real estate taxes.
(D) Lessee shall have the right to contest or review by legal proceedings or in such other manner as may be legal (which, if instituted, shall be conducted solely at Lessee's own expense) any tax, assessment for public improvements or benefits, or other governmental imposition aforementioned, at any time until upon condition that, before instituting such proceeding Lessee shall pay (under protest) such tax or assessments for public improvements or benefits, or other governmental imposition, duties and charges aforementioned, unless such payment would act as a bar to such contest or interfere materially with the property is subject prosecution thereof and in such event Lessee shall post with Lessor alternative security reasonably satisfactory to levy or executionLessor. All such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to final adjudication with reasonable dispatch. In the event of any reduction, cancellation, or discharge, Lessee shall pay the amount that shall be finally levied or assessed against the Leased Premises or adjudicated to be due and payable, and, if there shall be any refund payable by the governmental authority with respect thereto, if Lessee has paid the expense of Lessor in such proceedings, Lessee shall be entitled to receive and retain the samerefund, subject, however, to apportionment as provided during the first and last years of the term of this Lease.
(E) Lessor, within sixty (60) days after notice to Lessee if Lessee fails to commence such proceedings, may, but shall not be obligated to, contest or review by legal proceedings, or in such other manner as may be legal, and at Lessor's own expense, any tax, assessments for public improvements and benefits, or other governmental imposition aforementioned, which shall not be contested or reviewed, as aforesaid, by Lessee, and unless Lessee shall promptly join with Lessor in such contest or review, Lessor shall be entitled to receive and retain any refund payable by the governmental authority with respect thereto.
(F) Lessor shall not be required to join in any proceeding referred to in this Article, unless in Lessee's reasonable opinion, the provisions of any law, rule, or regulation at the time in effect shall require that such a proceeding be brought by and/or in the name of Lessor, in which event Lessor shall upon written request, join in such proceedings or permit the same to be brought in its name, all at no cost or expense to Lessor.
(G) Within thirty (30) days after Lessor notifies Lessee in writing that Lessor has paid such amount, Lessee shall also pay to Lessor, as additional Rent, the amount of any sales tax, franchise tax, excise tax, on Rents imposed by the State where the Leased Premises are located. At Lessor's option, Lessee shall deposit with Lessor on the first day of each and every month during the term hereof, an amount equal to one-twelfth (1/12) of any estimated sales tax payable to the State in which the property is situated for Rent received by Lessor hereunder ("Deposit"). From time to time out of such Deposit Lessor will pay the sales tax to the State in which the property is situated as required by law. In the event the Deposit on hand shall not be sufficient to pay said tax when the same shall become due from time to time, or the prior payments shall be less than the current estimated monthly amounts, then Lessee shall pay to Lessor on demand any amount necessary to make up the deficiency. The excess of any such Deposit shall be credited to subsequent payments to be made for such items. If a default or an event of default shall occur under the terms of this Lease, Lessor may, at its option, without being required so to do, apply any Deposit on hand to cure such default, in such order and manner as Lessor may elect.
Appears in 1 contract
Samples: Net Lease Agreement (Aei Real Estate Fund Xviii Limited Partnership)