HomeMy WebLinkAbout1782 the Lessor as a subatitution in whole or in part for taxes
assessed or imposed by such State or political subdiviaion
thereof on land and buildinqs and/or peraonalty, the eame .
shall be dee~aed to be included Within tha term "taxes and ~
aeseas~aenta", and the Lesaee ahall pay ~d discharqe such
tax or excise on rent. Any obliqation in the nnture ot -
a"eales tax" or "usa tax" that shall becaae dus or
payable by reason of the rentals payable by the Lesaee
under the terms and provfons hereo! shall be the obliq~tioa
of and shall be paid the Lessee.
c. The Lessee shall have the riqht to contest the
aunount or validity of any tax or assessment and nothinq
herein ahall imply any riqht on the part of the Lessee to
defer or postpone such payment for any such purpose unless
~ such proceedfnga shall operate to prevent or stay the _
collection of the tax or-assessment so contested and the
Lessee shall have deposited with the-Lessor the amount so
contested and_unpaid, toqether with all interest and penalties
in connection therewf~h and all charqes that may or miqht
be assessed aqafnst or become a charqe or li.en on the
Demfsed Premises, or any part thereof, by reason of such vontest
or by reason of the delay in the payment of the tax or
assessment Which may result fraa such contESt. Upon term-
ination of such proceedinqa, the Lessor shall pay the
amount of any such tax oi assessment or any part thereof
as shall be finally detenained by such proceedinqs to be
due and payable, toqether with any costs, fees, intesest,
penalties or liabilities in connection therewith, from the
monies deposited by the Lessee, as aforesaid, and shall
return any remaininq swns to the Lessee ~ithout interest.
If at any time durinq th,e course of such vontest proceedinqa
it shall appea= to the Lessor that the amount deposited by
the Leasee is or may.be insufficient to pay in full the
~ amount of the tax and assessment, together with all interest,
~ penalties and other charqes which may be incurred by reason
of the contest proceedinqs, or if at the termination of ~
such proceedinqs it shall or may appear that the amount
deposited by the Lessee is insufficient to pay in full the
amount found to be due, the Lessor shall have the riqht -
to require the Lessee to deposit such additional sums ~
~ as the Lessor may reasonably request, and upon failure of
! the Lessee to do_so within thirty (30) days of demand there-
~ for the amount theretofore deposited rrith the I~essor may be
applied to the payment, removal and discharqe of any then
pendinq and contested tax or assessment, and any delinquency
shall be treated as unpafd rent. The Lessor, at the Lessee's
sole expense, shall join in any such proceedinqs if any
la~t shall sv require.
d. The Lessee may, if it shall so desire, endeavor
at any tiiae to contest the validity. of any asseBSment, or
to obtain a la~werinq of the assessed valuation upon the
Demised Premises for the purpose of reducinq any assessment.
In such event the Lessor ~rill offer no objectioa and at the
request of the T~essee, without expense to the Lessor, will
cooperate with the Lessee. If requested by the Lessee, and
provided he will not in the reasonable judgment of the Lessor
incur any expense or liability thereby, the Lessor will
execute any documents which may be necessary and proper
for any such proceedinqs. Any refunds shall be the property
~ of the Lessee to the extent to which it may be based on
a payment of an assessment made by_ the Lessee.
e. The Lessor~saay at any time require the Lessee i
to deposit fun~ds for the payment of current taxes and assess- ~
nents on t,t~a Demiaed Premises in a bank or- trust canpany
sel~ectrea by the Leasar. Such tunde shall be held ia the
naars o! tha iwsss~, Mith any iateraat payabla to the Leasea,
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60~OiI f ~C 1~
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