Common use of Statutory Service Payments Clause in Contracts

Statutory Service Payments. Developer, for itself and its successors as TIF Parcel Owners with respect to the TIF Parcels, agree to make Statutory Service Payments attributable to their respective period of ownership of the TIF Parcels, all pursuant to and in accordance with the requirements of the TIF Statutes, and any subsequent amendments or supplements thereto, the TIF Ordinance and this Agreement. Statutory Service Payments will be made semiannually to the County Treasurer (or to such County Treasurer’s designated agent for collection of the Statutory Service Payments) on or before the final dates for payment of real property taxes for the TIF Parcels. Any late payments will bear penalties and interest at the then current rate established under Ohio Revised Code Sections 323.121 and 5703.47 or any successor provisions thereto, as the same may be amended from time to time. Statutory Service Payments will be made in accordance with the requirements of the TIF Statutes and the TIF Ordinance and, for the TIF Parcels, will be in the same amount as the real property taxes that would have been charged and payable against the Improvement to the TIF Parcels (after credit for any other payments received by the City under Ohio Revised Code Sections 319.302, 321.24, 323.152 and 323.156, or any successor provisions thereto, as the same may be amended from time to time, and are referred to herein as the “Property Tax Rollback Payments”) if it were not exempt from taxation pursuant to the TIF Ordinance, including any penalties and interest. No TIF Parcel Owner will, under any circumstances, be required for any tax year to pay both real property taxes and Statutory Service Payments with respect to any portion of the Improvement, whether pursuant to Ohio Revised Code Section 5709.42, the TIF Ordinance or this Agreement.

Statutory Service Payments. Developer, for itself and its successors as Each TIF Parcel Owners with respect to Owner will make the TIF Parcels, agree to make Statutory Service Payments attributable to their respective its period of ownership of the any TIF ParcelsParcel, all pursuant to and in accordance with the requirements of the TIF Statutes, the TIF Ordinance and any subsequent amendments or supplements thereto, the TIF Ordinance and this Agreement. Statutory Service Payments will be made semiannually to the County Treasurer of ▇▇▇▇▇▇▇▇▇▇ County, Ohio (or to such County Treasurer’s designated agent for collection of the Statutory Service Payments) on or before the final due dates for payment of real property taxes for each TIF Parcel, until expiration of the TIF ParcelsExemption. Any late payments will bear penalties and interest at the then current rate established under Ohio Revised Code Sections 323.121 and 5703.47 of the Ohio Revised Code or any successor provisions thereto, as the same may be amended from time to time. Statutory Service Payments will be made in accordance with the requirements of the TIF Statutes and the TIF Ordinance and, for the each TIF ParcelsParcel, will be in the same amount as the real property taxes that would have been charged and payable against the Improvement to the that TIF Parcels Parcel (after credit for any other payments received by the City under Ohio Revised Code Sections 319.302, 321.24, 323.152 and 323.156323.156 of the Ohio Revised Code, or any successor provisions thereto, as the same may be amended from time to time, and are with such payments referred to herein as the “Property Tax Rollback Payments”) if it were not exempt from taxation pursuant to the TIF OrdinanceExemption, including any penalties and interest. No TIF Parcel Owner will, under any circumstances, be required for any tax year to pay both real property taxes and Statutory Service Payments with respect to any portion of the Improvement, whether pursuant to Section 5709.42 of the Ohio Revised Code Section 5709.42or the Agreement; provided, however, this shall not preclude payment of any sum otherwise required to be paid under the TIF Ordinance or this Agreement.