Park Tax Free for 5 Years*
Garage Sponsor hereby offers to pay the Real Estate Taxes on behalf of a Parking Space Purchaser of any Parking Space Unit in the Building for approximately 5 years from the Closing of Title to the Parking Space Unit (“Real Estate Tax Payments”), provided that the Parking Space Purchase Agreement between Garage Sponsor and Parking Space Purchaser is fully executed on or before midnight May 31, 2022(“Incentive Period”). The Real Estate Tax Payments shall commence on the Closing of Title to the Parking Space Unit and shall be paid as a lump sum closing credit to Parking Space Purchaser based on the then-current real estate taxes without account for increases or decreases in future taxes. Garage Sponsor makes no representation that it will extend the Incentive Period after it expires.
