Common use of Sale of the Properties Clause in Contracts

Sale of the Properties. On August 22, 2007, on request of the Worker’s Compensation Agency, the circuit court appointed ▇▇▇▇▇ as receiver of ▇▇▇▇▇▇▇▇▇’▇’ business and property. In March 2008, ▇▇▇▇▇ sought permission to sell ▇▇▇▇▇▇▇▇▇’▇ property on Oak Industrial Drive in Grand Rapids. The circuit court granted him permission to sell the property free and clear of mortgages, liens, and other encumbrances, but required him to pay “all outstanding property tax liabilities.” ▇▇▇▇▇ sold the property, and paid the property’s unpaid property taxes, interest, and penalties out of the proceeds of the sale. In March 2011, ▇▇▇▇▇ sought permission to sell ▇▇▇▇▇▇▇▇▇’▇ 44th Street property. The circuit court’s order permitted him to sell the property free and clear of mortgages, liens, and other encumbrances, but required him to pay the property’s “real property taxes” and to escrow “statutory interest, fees and penalties.” ▇▇▇▇▇ sold the property in compliance with the order. 1 MCL 207.551 et seq.

Sale of the Properties. On August 22, 2007, on at the request of the Worker’s Workers’ Compensation Agency, the circuit court appointed ▇▇▇▇▇ as receiver of ▇▇▇▇▇▇▇▇▇’▇’ ▇ business and property. In March 2008, ▇▇▇▇▇ sought permission to sell ▇▇▇▇▇▇▇▇▇’▇ property on Oak Industrial Drive in Grand Rapids. The circuit court granted him permission to sell the property free and clear of mortgages, liens, and other encumbrances, but required him to pay “all outstanding property tax liabilities.” ▇▇▇▇▇ sold the property, property and paid the property’s unpaid property taxes, interest, and penalties out of the proceeds of the sale. In March 2011, ▇▇▇▇▇ sought permission to sell ▇▇▇▇▇▇▇▇▇’▇ 44th Street property. The circuit court’s order permitted him to sell the property free and clear of mortgages, liens, and 1 MCL 207.551 et seq. other encumbrances, but required him to pay the property’s “real property taxes” and to escrow “statutory [s]tatutory interest, fees and penalties.” ▇▇▇▇▇ sold the property in compliance with the order. 1 MCL 207.551 et seq.