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10-28-2015 Additions
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10-28-2015 Additions
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10/29/2015 7:26:54 AM
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(2) Title Documents. Such affidavits of Purchaser, Certificate of Real Estate <br />Value or other documents as may be reasonably required by the Title <br />Company in order to record the Seller's Closing Documents and issue the <br />Title Insurance Policy required by this Agreement. <br />5. Prorations. Seller and Buyer agree to the following pro -rations of costs regarding this <br />agreement. Both parties acknowledge that Seller will only pay up to One Thousand Dollars and <br />no/100 ($1,000.00) as a maximum out of pocket costs for pro -rations of items (a) through (d). <br />(a) <br />Title Insurance and Closing Fee. Seller will pay all costs of Title Evidence, and <br />the fees charged by Title for any escrow regarding Buyer's Objections. Buyer <br />will pay all premiums required for the issuance of an Owner's Title Insurance <br />Policy, (unless Seller fails to provide an Abstract or Registered Property <br />Abstract). Buyer will pay any reasonable and customary closing fees or charges <br />imposed by any closing agent designated by the Title Company. <br />(b) Deed Tax. Seller shall pay all state deed tax regarding the Warranty Deed to be <br />delivered by Seller under this Agreement. <br />(c) <br />Real Estate Taxes and Special Assessments. Seller will pay on or before the <br />Closing Date, all special assessments levied, pending, or constituting a lien <br />against the Real Property as of the Closing Date including without limitation any <br />installments of special assessments including interest payable with general real <br />estate taxes in the year of Closing. General real estate taxes and installments of <br />any other special assessments payable in all years prior to the year of Closing will <br />be paid by Seller. General real estate taxes payable in the year of Closing shall be <br />prorated by Seller and Buyer as of the Closing Date based upon a calendar year. <br />Seller shall pay all deferred real estate taxes or special assessments which may <br />become payable as a result of the sale contemplated hereby. If the amount of such <br />general real estate taxes and installments of special assessments payable therewith <br />cannot be determined on the Closing Date, Seller will deposit with the Title <br />Company, from the Purchase Price, an amount equal to 110% of the most current <br />estimate of such taxes and special assessment installments, assuming for <br />estimating purposes that the Real Property will be fully assessed. Such deposit <br />will be held in escrow and all interest earnings on such deposit will be paid to <br />Seller. The Title Company will retain such deposit to pay Seller's share of the <br />actual general real estate taxes payable in year of Closing and installments of <br />special assessments including interest payable therewith, paying any excess over <br />to Seller. Seller will pay any deficiency, when such general real estate taxes and <br />installments of special assessments including interest payable therewith are <br />known. <br />(d) Recording Costs. Seller will pay the costs of recording all documents necessary <br />to place record title in the condition warranted in this Agreement. Buyer will pay <br />the cost of recording all other documents. <br />9 <br />
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