Orange County NC Website
County and Tenant recognize that the annual payments required in this subsection each <br /> span two tax years and will therefore require estimates based on estimated tax rates. <br /> Upon receipt of actual tax rates, County will reconcile the amount paid by Tenant and <br /> the actual amount due under this subsection and provide Tenant with a copy of this <br /> reconciliation. Any difference between what has been paid and what is due shall be <br /> paid on May 1 of each lease year by Tenant as additional rent or credited on May 1 by <br /> County against rent. Tenant agrees that the valuation of the Premises shall be made by <br /> County's Tax Assessor according to the Schedule of Values adopted by County from <br /> time to time and that the determination of the true value in money of the Premises shall <br /> be made by the County's Tax Assessor. <br /> Tenant may, at its expense, in good faith, contest any such taxes, assessments <br /> and other similar charges or the valuation on which the same are based, and, in the <br /> event of any such contest may pay the taxes, assessments or other charges under <br /> protest during the period of such contest and any appeal therefrom. In the event it is <br /> determined by Tenant and Landlord or by the tribunal which ordinarily has jurisdiction <br /> that such tribunal does not have jurisdiction or is otherwise not permitted to act as a <br /> forum in consequence of the fact that Tenant's liability for the tax is contractual rather <br /> than imposed by law, then either party may submit a challenge to a tax, assessment or <br /> other similar charge or valuation to arbitration by an arbitration panel made up of MAI <br /> qualified/certified appraisers. County shall select one appraiser; Tenant shall select one <br /> appraiser; the appraiser selected by County and Tenant shall select a third appraiser <br /> and the decision of the arbitration panel shall be binding on both parties. To the extent <br /> that enforcement of the payment of any such taxes, assessments and other charges in <br /> the event of any contest are legally stayed during the period of such contest, such taxes, <br /> assessments and other charges may remain unpaid during the period of such contest <br /> and any appeal therefrom. <br /> 4. All other terms and con itions of Exhibit A shall remain the same. <br /> This the �--day of 11999. <br /> Tena Witness: <br /> B / Seal <br /> Y (Seal) � <br /> mes P. Lilley <br /> Orange County l - Attes <br /> By Y1� . (Seal) <br /> Alice M. Gordon, Chair Beverly A. lythe, Clerk <br /> Board of County Commissioners Board of County Commissioner <br />