Farmers Loan & Trust Co. v. Park & Tilford

Plaintiff sues to recover rent claimed to be due under the covenant of a lease that, in addition to a stipulated rental of $58,000 a year, the tenant should pay all taxes which “ may become payable by any owner of the demised premises upon said rents as income of such owner by virtue of any present or future law or regulation of the United States of America, or of the State of New York, or of the Corporation of. the City of New York.” The lease further provides that “ the amount so to be paid by the tenant for income tax under this provision shall be the amount payable under the terms of any…