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02-14-2022 EDA
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02-14-2022 EDA
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2/14/2022 9:53:26 AM
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2/14/2022 9:25:21 AM
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MV EDA
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Packets
Date
2/14/2022
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Draft 2.10.2022 <br /> <br />3 <br />DOCSOPEN\MU205\57\776768.v5-1/28/22 <br />B. Taxes and Assessments. The real estate taxes due and payable in 2022 are non- <br />homestead classification. The Sellers and Buyer agree to prorate as of the date of <br />actual closing all real estate taxes due and payable in 2022, the year of closing. Buyer <br />shall pay the real estate taxes due and payable in the year 2023 and thereafter, if any. <br />The Sellers make no warranties as to the real estate homestead tax classification status <br />of property in 2015. Sellers shall pay all special assessments due and payable and <br />levied as of the date of closing. Buyer shall pay all special assessments levied on said <br />Property after the date of closing. Sellers make no representation or warranty <br />whatsoever concerning the amount of real estate taxes or assessments which shall be <br />assessed or levied against the Property subsequent to the date of this Agreement. <br /> <br />C. Recording Costs. Sellers shall pay the costs of recording all documents necessary to <br />place record title in the condition warranted, and the Buyer shall pay the cost of <br />recording all other documents. <br /> <br />D. Closing Costs. Sellers shall pay the cost of the title commitment fee, mortgage <br />satisfaction and ½ closing fee, if any. <br /> <br />E. Legal Expenses. The Buyer and Sellers shall each be responsible and pay their <br />respective legal fees. <br /> <br />8. SUBDIVISION OF LAND/LEGAL DESCRIPTION TO PROPERTY: If this sale <br />constitutes or requires a subdivision of land owned by Sellers, Sellers shall pay all subdivision <br />expenses and obtain all necessary governmental approvals. Sellers warrant that the legal <br />description of the real property to be conveyed has been or will be approved for recording as <br />of the date of closing. Both parties understand that all real estate taxes due and payable in the <br />year of closing will need to be paid at closing in order for a parcel or subdivision or lot split <br />to be recorded. <br /> <br />9. TITLE EXAMINATION/CURING TITLE DEFECTS: As soon as reasonably possible <br />after execution of this Agreement by both parties, <br /> <br />A. Sellers shall surrender any abstract of title and a copy of any owner’s title insurance <br />policy for the property, if in Sellers’ possession or control, to Buyer or to Buyer’s <br />designated title service provider; and <br /> <br />B. Buyer shall obtain the title evidence determined necessary or desirable by Buyer. <br /> <br />The Buyer shall have 20 days from the date it receives such title evidence to raise any <br />objections to title it may have. Objections not made within such time will be deemed <br />waived. The Sellers shall have 90 days from the date of such objection to affect a cure; <br />provided, however, that Sellers shall have no obligation to cure any objections, and may <br />inform Buyer of such. The Buyer may then elect to close notwithstanding the uncured <br />objections or declare this Agreement null and void, and the parties will thereby be released <br />from any further obligation hereunder. <br />
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