Common use of Tax Status/Restrictive Covenant Clause in Contracts

Tax Status/Restrictive Covenant. Without the prior written consent of the City (which may be withheld for any reason), Developer shall not use or permit the use of any of the Developer Property in any manner which would render any portion of the Developer Property exempt from property taxation during the life of the District. Further, Developer will not challenge or contest any assessment on the Developer Property by the City if such assessment is at or below the Guarantied Value, including, but not limited to, filing any objection under Wis. Stat. Section 70.47, Wis. Stat. Section 74.37, or any Department of Revenue related assessment proceeding. Prior to the conveyance of all or any portion of the Developer Property, ▇▇▇▇▇▇▇▇▇ agrees to record on the Developer Property with the Sheboygan County Register of Deeds a deed restriction or restrictive covenant evidencing the restrictions on the Developer Property set forth in this Section‌

Tax Status/Restrictive Covenant. Without the prior written consent of the City (which may be withheld for any reason), Developer shall not use or permit the use of any of the Developer Property in any manner which would render any portion of the Developer Property exempt from property taxation during the life of the District. Further, Developer will not challenge or contest any assessment on the Developer Property by the City if such assessment is at or below the Guarantied Value, including, but not limited to, filing any objection under Wis. Stat. Section 70.47, Wis. Stat. Section 74.37, or any Department of Revenue related assessment proceeding. Prior to the conveyance of all or any portion of the Developer Property, ▇▇▇▇▇▇▇▇▇ agrees to record on the Developer Property with the Sheboygan County Register of Deeds a deed restriction or restrictive covenant evidencing the restrictions on the Developer Property set forth in this Section‌Section