FAIRFAX CO. v. WHELAN DRUG CO., INC.


105 A.D.2d 647 (1984)

Fairfax Company, Appellant-Respondent, v. Whelan Drug Co., Inc., Respondent-Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

November 20, 1984


This action is for a declaratory judgment determining the rights of the parties under a tax escalation clause contained in a 1976 lease of commercial premises owned by Fairfax and occupied by Whelan. The tax escalation clause provides for an annual 4.95% payment on any increases over the 1975 tax base year in "real estate taxes or assessments" or "any other * * * assessment * * * ordinary or extraordinary, foreseeable or unforeseeable". The last sentence of the clause reads...

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