Tax Covenants and Warranties

normally anticipate that the parties would expressly agree on responsibility for the tax on revalued properties at the time that the price for the Company was being negotiated.

9.2 There are occasionally clauses included to state that prior knowledge of the Buyer or disclosure do not affect the validity of claims under the main covenant clauses. We do not consider that such clauses are necessary due to the nature of the tax deed as a covenant to pay.

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