FORESEEN OR UNFORESEEN, GENERAL OR SPECIAL, LEVIED OR
IMPOSED UPON THE PREMISES AND THE LAND (COLLECTIVELY, THE "PROPERTY"), BUT SHALL
NOT INCLUDE ANY FRANCHISE, EXCISE, CORPORATE, ESTATE, INHERITANCE, SUCCESSION,
CAPITAL LEVY OR TRANSFER TAX OF LANDLORD OR ANY INCOME, PROFITS OR REVENUE TAX
UPON THE INCOME OF LANDLORD.
SUBJECT TO THE FOREGOING, IF AT ANY TIME DURING
THE TERM OF THIS LEASE, THE PRESENT METHOD OF TAXATION OR ASSESSMENT SHALL BE SO
CHANGED THAT THE WHOLE OR ANY PART OF THE TAXES, ASSESSMENTS, LEVIES,
IMPOSITIONS, OR CHARGES NOW LEVIED, ASSESSED OR IMPOSED ON THE PREMISES AND THE
LAND SHALL BE LEVIED, ASSESSED OR IMPOSED WHOLLY OR PARTIALLY AS A CAPITAL LEVY
OR OTHERWISE ON THE RENTS RECEIVED BY A LANDLORD FROM REAL ESTATE OR THE RENTS
RESERVED HEREIN OR ANY PART THEREOF OR ANY FRANCHISE, INCOME, PROFITS, SALES,
RENTAL, USE OR OCCUPANCY, OR OTHER TAXES SHALL BE SUBSTITUTED FOR THE CURRENT
IMPOSITIONS, THEN SUCH TAXES, ASSESSMENTS, LEVIES, IMPOSITIONS OR CHARGES, TO
THE EXTENT SO LEVIED, ASSESSED OR IMPOSED SHALL BE DEEMED TO BE INCLUDED WITHIN
THE TERM "IMPOSITIONS" TO THE EXTENT THAT SUCH TAX WOULD BE PAYABLE IF THE
PREMISES WERE THE ONLY PROPERTY OF THE LANDLORD SUBJECT THERETO.
(II)
"TAX YEAR" SHALL MEAN EACH PERIOD OF
TWELVE (12) MONTHS, COMMENCING ON THE FIRST DAY OF JULY OF EACH SUCH PERIOD, IN
WHICH OCCURS ANY PART OF THE
2
TERM, OR SUCH OTHER PERIOD OF TWELVE (12) MONTHS OCCURRING DURING THE TERM AS
HEREAFTER MAY BE DULY ADOPTED AS THE FISCAL YEAR FOR REAL ESTATE TAX PURPOSES OF
THE CITY OF NEW YORK.
(B)
FOR EACH TAX YEAR DURING THE TERM, TENANT SHALL PAY ALL IMPOSITIONS
DIRECTLY TO THE GOVERNMENTAL AUTHORITY CHARGED WITH THE COLLECTION THEREOF AS
AND WHEN SAME ARE DUE AND PAYABLE (SUBJECT TO TENANT'S RIGHT TO CONTEST SAME
PURSUANT TO SECTION 3(C) HEREOF) AND SHALL DELIVER TO LANDLORD COPIES OF THE
RECEIPTED BILLS OR OTHER EVIDENCE SATISFACTORY TO LANDLORD SHOWING THE PAYMENT
OF SUCH IMPOSITIONS PROMPTLY FOLLOWING LANDLORD'S REQUEST THEREFOR.
IN RESPECT
OF ANY TAX YEAR WHICH TERMINATES AFTER THE EXPIRATION DATE, THE IMPOSITIONS
PAYABLE BY TENANT IN RESPECT OF EACH SUCH TAX YEAR, OR ANY REFUND OF IMPOSITIONS
(WHETHER RECEIVED BY LANDLORD OR TENANT) SHALL BE PRORATED BETWEEN LANDLORD AND
TENANT FOR THE APPLICABLE PERIOD.
TENANT MAY PAY ANY IMPOSITIONS IN
INSTALLMENTS TO THE EXTENT PERMITTED BY LAW.
LANDLORD SHALL DELIVER A COPY OF
ANY BILL OR INVOICE THAT IT RECEIVES FOR IMPOSITIONS TO TENANT WITHIN SEVEN (7)
BUSINESS DAYS AFTER LANDLORD'S RECEIPT THEREOF.
TENANT SHALL DELIVER EVIDENCE
OF PAYMENT OF IMPOSITIONS TO LANDLORD WITHIN SEVEN (7) BUSINESS DAYS AFTER
PAYMENT OF THE SAME.
(C)
SUBJECT TO THE PROVISIONS OF ARTICLE 7 OF THE AGREEMENT OF PURCHASE AND
SALE, AND SUBJECT TO THE JOINT CONTROL PROVIDED FOR BELOW IN THIS SECTION 3(C),
FOR EACH TAX YEAR DURING THE TERM, TENANT MAY, FROM TIME TO TIME, CONTEST ANY
IMPOSITION AND/OR THE ASSESSED VALUATION OF THE PROPERTY FOR THE PURPOSE OF
REDUCING THE IMPOSITIONS PAYABLE BY TENANT