07-09-2014 Council Agenda - Laserfiche WebLink

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iv) Date -Down Certificate. A certificate confirming the accuracy, as of the Closing Date, of the representations and warranties set forth in Section 7. v) Other Documents. Such other documents as are required to be executed by Seller in order to transfer the Property to Buyer in accordance with the terms of this Agreement. b. Buyer's Closing Documents. On the Closing Date, Buyer will execute and/or deliver to Seller the following (collectively, "Buyer's Closing Documents"): i) Purchase Price. The balance of the Purchase Price by cashier's check or wire transfer is to be delivered to Seller on the Closing Date. ii) Title Documents. Such affidavits of Purchaser, Certificates of Value or other documents as may be reasonably required by the Title Company in order to record the Seller's Closing Documents and issue the Title Insurance Policy required by this Agreement. 5. Prorations. Seller and Buyer agree to the following prorations and allocation of costs regarding this Agreement: a. Title Insurance and Closing Fee. Seller will pay all costs of providing the Title Commitment. Buyer will pay the premium required for the issuance of the Owner's Title Insurance Policy. Seller will pay the cost of providing the ALTA Survey identified in Section 6. b. of this Agreement. Seller and Buyer will each pay one-half of any reasonable and customary closing fee or charge imposed by the Title Company. b. Real Estate Taxes. On or before the Closing Date, Seller shall pay all real estate taxes, and any penalties or interest due thereon and payable with respect to the Property for all years prior to the year in which the Closing occurs together with any deferred real estate taxes or deferred special assessments payment of which is required as a result of the closing of this transaction.. General real estate taxes due and payable in the year of closing shall be pro rated between Seller and Buyer as of the Closing Date. Buyer shall pay all real estate taxes due and payable with respect to the Property in years following the year of Closing. c. Special Assessments. Seller shall pay all special assessments levied, pending or otherwise of record against the Real Property as of' the Closing Date. Installments of special assessments, if any, due and payable in the year 2014 and prior years shall be paid by Seller. d. Recording Costs. Seller will pay the cost of recording all documents necessary to transfer record title to Buyer in the condition warranted by Seller in this Agreement, including the cost of recording the Plat and other documents required Davis Real Estate/City of Little Canada 6 5