Property Taxes. All taxes, service payments in lieu of taxes, assessments, general or special, excises, exactions, transit charges, housing fund assessments or other housing charges, child care assessments or levies, fees or charges, general or special, ordinary or extraordinary, unforeseen as well as foreseen, of any kind which are assessed, levied, charged, confirmed or imposed by any public authority upon the Project, or its use, occupancy or operation, or upon any personal property used in the operation of... the Project, or with respect to services or utilities consumed in the use, occupancy or operation of the Project, or upon Landlord with respect to the Project, or upon the act of leasing any space within the Project, or in connection with the business of renting space within the Project or with respect to the possession, leasing, operation, use or occupancy by Tenant of the Premises or any portion thereof, or upon or measured by the gross rentals received by Landlord from the Project. Property Taxes shall also include any tax, fee or other excise, however described, which may be levied or assessed in lieu of, or as a substitute, in whole or in part, for, or as an addition to, any other Property Taxes. Property Taxes shall not include (x) corporate income or franchise taxes, (y) inheritance or estate taxes imposed upon or assessed against the Project or any part thereof or interest therein, and (z) taxes computed upon the basis of the net income derived from the Project by Landlord or the owner of any interest therein, unless, due to a change in the method of taxation, any of such taxes is levied or assessed against Landlord in lieu of, or as a substitute; in whole or in part, for, or as an addition to, any other charge which would otherwise constitute a Property Tax. If requested by Tenant, Landlord shall take reasonable steps to contest any assessment or re-assessment of all or any part of the Project, and the costs of such contest shall be treated as Operating Expenses. If the Project is reassessed due to a change in ownership occurring after the Base Year, any increase in Property Taxes resulting from such reassessment ("Proposition 13 Increase") shall be phased in as part of Property Taxes as follows: (i) 25% of the Proposition 13 Increase shall be included in Property Taxes for the calendar year in which the reassessment occurs; (ii) 50% of the Proposition 13 Increase shall be included in Property Taxes in the next following calendar year; (iii) 75% of the Proposition 13 Increase shall be included in Property Taxes in the next following calendar year; and (iv) 100% of the Proposition 13 Increase shall be included in Property Taxes for the remaining calendar years of the Term.View More
Property Taxes. All real property taxes, service payments in lieu of taxes, assessments, assessments and improvement bonds, ordinary and extraordinary, general and special, foreseen and unforeseen, levied or special, excises, exactions, transit charges, housing fund assessments or other housing charges, child care assessments or levies, fees or charges, general or special, ordinary or extraordinary, unforeseen as well as foreseen, of any kind which are assessed, levied, charged, confirmed or imposed by any... public authority assessed upon the Project, or its use, occupancy or operation, or upon any personal property used in the operation of the Project, or with respect to services or utilities consumed in the use, occupancy or operation of the Project, or upon Landlord with respect to the Project, or upon the act of leasing any space within the Project, or in connection with the business of renting space within the Project or with respect to the possession, leasing, operation, use ownership of and/or all other taxable interests in the Project imposed by any taxing authority having jurisdiction. If at any time the methods of taxation shall be altered so that in addition to or occupancy by Tenant in lieu of or as a substitute for the whole or any part of the Premises or any portion thereof, or upon or measured by the gross rentals received by Landlord from the Project. Property Taxes now levied, assessed or imposed there shall also include be levied, assessed or imposed by any tax, fee government body any other type of tax or other excise, however described, which may be levied or assessed imposition in lieu of, or as a substitute, substitute for, or in addition to, the whole or any portion of any Property Taxes, then the same shall be included as Property Taxes. Landlord and Tenant recognize that there may be imposed new forms of taxes, assessments, charges, levies or fees, or there may be an increase in part, for, certain existing taxes, assessments, charges, levies or as an addition fees placed on, or levied in connection with, the ownership, leasing, occupancy or operation of the Premises or the Building. All such new or increased taxes, assessments, charges, levies or fees which are imposed or increased, including, but not limited to, any taxes, assessments, charges, levies and fees assessed or imposed due to the existence of the Lease and the leases of other Property Taxes. tenants or occupants of the Building or for the purpose of funding services or special assessment districts theretofore funded by real property taxes, shall also be included within the meaning of "Property Taxes" as used herein, except as expressly provided herein otherwise. Property Taxes shall not include (x) corporate income any (i) inheritance, estate, succession, transfer, gift, excess profits, franchise, capital stock, federal and/or state income, corporation tax (or other taxes to the extent applicable to Landlord's net income), (ii) payment of interest for late payment of Property Taxes (which shall be the sole responsibility of Landlord), (iii) any costs or franchise taxes, (y) inheritance expenses incurred by Landlord in securing any governmental approvals to construct and/or initially to operate all or estate any portion of the Project, whether pursuant to a development agreement or otherwise, including, without limitation, any impact fees, development fees, dedications, or other fees or charges paid to any governmental authority in connection with any such construction and/or initial right to operate (iv) any increase in real property taxes imposed upon or assessed against caused by construction in the Project commenced subsequent to the date of this Lease until such time as such newly constructed space constitutes gross leasable area, (v) bonds and/or assessments which have been or, subsequent to the date hereof are, levied for the purpose of funding the costs of construction for Landlord's development or any part thereof or interest therein, and (z) taxes computed upon the basis of the net income derived from the Project by Landlord or the owner of any interest therein, unless, due to a change in the method of taxation, any of such taxes is levied or assessed against Landlord in lieu of, or as a substitute; in whole or in part, for, or as an addition to, any other charge which would otherwise constitute a Property Tax. If requested by Tenant, Landlord shall take reasonable steps to contest any assessment or re-assessment redevelopment of all or any part portion of the Project or capital improvements constructed therein or with respect thereto, or any offsite improvements, (vi) any taxes or assessments related to the usage (as contrasted with the construction or installation) of any utilities to the Premises or the Project, such as water or sewer charges included in the tax bill, and (vii) any real property taxes assessed against land in the costs of such contest Project that has not been fully developed as buildings or common area. To the extent Tenant is required to pay any assessments, each assessment shall be treated as Operating Expenses. If the Project is reassessed due deemed to a change in ownership occurring after the Base Year, any increase in Property Taxes resulting from such reassessment ("Proposition 13 Increase") shall be phased payable in as part of Property Taxes many installments as follows: (i) 25% of is lawful, and only the Proposition 13 Increase installments due during any year shall be included in the Property Taxes for that year; any portion of any assessment deemed payable after the calendar year Term of this Lease shall not be Tenant's obligation. All refunds, rebates and discounts received by Landlord in which connection with such Property Taxes shall be deducted prior to the reassessment occurs; (ii) 50% calculation of Tenant's proportionate share of the Proposition 13 Increase Property Taxes. Landlord warrants and represents to Tenant that none of the expenses included within Property Taxes shall be included in Property Taxes in within any other charge payable under the next following calendar year; (iii) 75% Lease. In the event Landlord receives any refund of any such taxes or assessments as a result of Landlord's negotiating, appearing or contesting the same, Landlord shall promptly pay to Tenant, Tennat's pro-rata share of the Proposition 13 Increase shall be included refund. Any property tax reassessment resulting in Property Taxes in increased property taxes after the next following calendar year; and (iv) 100% Base Year caused by Tenant improvements performed by or for the benefit of the Proposition 13 Increase shall Tenant may be included in Property Taxes passed through to the extent of such increase to Tenant for the remaining calendar years of the Term. reimbursement to Landlord. View More
