Assessment and Lien Clause Samples

Assessment and Lien. (a) The Property Owner agrees that upon the execution and delivery of this Agreement by the parties, the Property Owner voluntarily and willingly consents to the placement of a special assessment levied against the Property by Knox County pursuant to this Agreement and applicable law in the principal amount of $[ ], together with all interest, penalties, and fees as described in the Financing Agreement and C-PACER Act (the “Assessment”). Upon execution and delivery of this Agreement, Knox County will execute and cause to be recorded in the office of the Register of Deeds for Knox County, together with a copy of this Agreement, pursuant to Tenn. Code ▇▇▇. § ▇▇-▇▇▇-▇▇▇, the Notice of Assessment Interest and C-PACER Lien (“Notice of Assessment”), substantially in the form of Exhibit C. The recording of the Notice of Assessment will cause the Assessment to attach as a lien upon the Property for the benefit of Knox County (the “C-PACER Lien”) and provide record notice to third parties of the existence of the C-PACER Lien. (b) The execution and delivery of this Agreement by the parties authorizes and effectuates the levy of the Assessment by Knox County against the Property without any further action required by the parties. (c) The Property Owner hereby promises to pay to the Trustee the Assessment for a period of [ ] years on the due dates set forth in Exhibit D hereto (the “Assessment Schedule”). The Property Owner agrees, as provided in the Financing Agreement, to pay the amount due in installments according to the Assessment Schedule (each, an “Assessment Installment”), each such Assessment Installment to be paid by the Property Owner by its due date in order to avoid delinquencies and the accrual of interest and related penalties. (d) The Assessment shall be secured by the C-PACER Lien until paid in full. Failure to pay any Assessment Installment, like failure to pay any property tax pertaining to the Property, will result in penalties and interest accruing on the amounts due on the terms and provisions of the Financing Agreement, in addition to the accrual of delinquent interest and penalties that will be charged on the Assessment Installment in the same manner and at the same rate for delinquent property taxes as provided for by law. Furthermore, under those circumstances, the C-PACER Lien may be subject to enforcement through a delinquent tax sale in the manner specified in Section 4, below. (e) The Property Owner hereby certifies to Knox County and Cap...
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Assessment and Lien. The Property Owner hereby authorizes and directs SANBAG to cause to be recorded in the office of the County Recorder the various notices and other documents required by Chapter 29 and other applicable laws to be recorded against the Property.
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Assessment and Lien. (a) Owner agrees that upon the execution of this Contract by the parties, the Property is subject to an assessment levied against the Property pursuant to this Contract, the Act and applicable law (the “Assessment”) together with interest, and consents to levy of the Assessment on and recordation of a lien against the Property. Upon execution of this Contract, County will execute and cause to be recorded in the office of the County Recorder a notice of assessment substantially in the form on file in the office of the Program Administrator (the “Notice of Assessment”). (b) The execution of this Contract by the parties constitutes the levy of the Assessment and the Annual Administrative Assessment, as defined in paragraph 5(h) below, by the Board of Supervisors against the Property without any further action required by the parties. (c) Upon recordation of the Notice of Assessment in the office of the County Recorder, the Assessment and each installment, together with any interest and penalties that become due on the Assessment, shall constitute a lien upon the Property until paid. Initially, as reflected in the Notice of Assessment, upon recordation of the Notice of Assessment, the Assessment shall equal the Maximum Assessment, shown on Exhibit B, attached and incorporated by this reference. Following County’s disbursement of the Disbursement Amount, as defined in Section 4 below, the actual Assessment shall equal the Disbursement Amount plus Capitalized Interest, as defined in Section 5, below. (d) Failure to pay any installment of the Assessment or any interest thereon, like failure to pay any property taxes pertaining to the Property, will result in penalties and interest accruing on the amounts due. In addition, under those circumstances, the County has the right to foreclose the lien of the Assessment, as set forth in paragraph 5(i) below.
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Related to Assessment and Lien

  • Taxes, Assessments and Liens Grantor will pay when due all taxes, assessments and liens upon the Collateral, its use or operation, upon this Agreement, upon any promissory note or notes evidencing the Indebtedness, or upon any of the other Related Documents. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized in Lender's sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.

  • Authority of Administrative Agent to Release Collateral and Liens Each Lender and the Issuing Bank hereby authorizes the Administrative Agent to release any collateral that is permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and the Issuing Bank hereby authorizes the Administrative Agent to execute and deliver to the Borrower, at the Borrower’s sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the Borrower in connection with any sale or other disposition of Property to the extent such sale or other disposition is permitted by the terms of Section 9.12 or is otherwise authorized by the terms of the Loan Documents.

  • Other Financing Statements and Liens Except as otherwise permitted under Section 9.06 of the Credit Agreement, without the prior written consent of the Administrative Agent (granted with the authorization of the Lenders as specified in Section 11.09 of the Credit Agreement), no Securing Party shall file or suffer to be on file, or authorize or permit to be filed or to be on file, in any jurisdiction, any financing statement or like instrument with respect to the Collateral in which the Administrative Agent is not named as the sole secured party for the benefit of the Lenders.

  • Taxes and Liens The following provisions relating to the taxes and liens on the Property are part of this Mortgage:

  • ENCUMBRANCES AND LIENS The Contractor shall not cause or permit any lien, attachment or other encumbrance by any person to be placed on file or to remain on file in any public office or on file with UNDP against any monies due to the Contractor or that may become due for any work done or against any goods supplied or materials furnished under the Contract, or by reason of any other claim or demand against the Contractor or UNDP.