EDA Resolution 14-EDA-286 - Laserfiche WebLink

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B_ Taxes and Assessments. The real estate taxes due and payable in 2014 are homestead classification. The Seller and Buyer agree to prorate as of the date of actual closing all real estate taxes due and payable in 2014, the year of closing. Buyer shall pay the real estate taxes due and payable in the year 2015 and thereafter. The Seller makes no warranties as to the real estate homestead tax classification status of property in 2015. Seller shall pay all special assessments due and payable and levied as of the date of closing. Buyer shall pay all special assessments levied on said Property after the date of closing. Seller makes no representation or warranty whatsoever concerning the amount of real estate taxes or assessments which shall be assessed or levied against the Property subsequent to the date of this Agreement. C. Recording Costs. Seller shall pay the costs of recording all documents necessary to place record title in the condition warranted,and the Buyer shall pay the cost of recording all other documents. D. Closing Costs. Seller shall pay the cost of the title commitment fee, mortgage satisfaction and 1/2 closing fee,if any. 8. SUBDIVISION OF LAND/LEGAL DESCRIPTION TO PROPERTY: If this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay all subdivision expenses and obtain all necessary governmental approvals. Seller warrants that the legal description of the real property to be conveyed has been or will be approved for recording as of the date of closing. Both parties understand that all real estate taxes due and payable in the year of closing will need to be paid at closing in order for a parcel or subdivision or lot split to be recorded. 9. TITLE EXAMINATION/CURING TITLE DEFECTS: As soon as reasonably possible after execution of this Agreement by both parties, A. Seller shall surrender any abstract of title and a copy of any owner's title insurance policy for the property, if in Seller's possession or control, to Buyer or to Buyer's designated title service provider; and B. Buyer shall obtain the title evidence determined necessary or desirable by Buyer. The Buyer shall have 20 days from the date it receives such title evidence to raise any objections to title it may have. Objections not made within such time will be deemed waived. The Seller shall have 90 days from the date of such objection to affect a cure; provided, however, that Seller shall have no obligation to cure any objections, and may inform Buyer of such. The Buyer may then elect to close notwithstanding the uncured objections or declare this Agreement null and void, and the parties will thereby be released from any further obligation hereunder. 10. DEFAULT: If the title to the Premises be found marketable or be so made within said time, and Buyer shall default in any of the covenants contained in this Agreement and 449809v2 NKE MU205-45 3