Allocation of Settlement Charges. Seller shall pay the cost of preparation and recordation of the Deed. Purchaser shall pay the title examination fees and the title insurance premium. Seller and Purchaser shall each pay half (1/2) of the Grantor’s Tax and Deed Recordation Taxes and half (1/2) of the costs incurred by Purchaser to obtain an ALTA survey for the Property. Other settlement expenses (except as otherwise expressly set forth in this Section 9.1) shall be paid in accordance with the customs of real estate transactions in Xxxxxxxx County, Virginia. Seller shall be responsible at its sole cost and expense for the cost to release any existing liens on the Property other than the Permitted Exceptions and other than the liens securing the Existing Indebtedness (such Existing Indebtedness to be either assumed or prepaid by Purchaser in accordance with this Agreement). Purchaser will pay one-half of the escrow fees of the Escrow Agent and Seller shall be responsible for the balance of the escrow fees. Purchaser shall be solely responsible for the costs incurred in connection with obtaining, executing, recording and insuring any financing obtained by Purchaser. Purchaser and Seller each shall pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby.
Appears in 2 contracts
Samples: Agreement of Purchase and Sale (Columbia Equity Trust, Inc.), Agreement of Purchase and Sale (Columbia Equity Trust, Inc.)
Allocation of Settlement Charges. Seller shall pay the cost of preparation and recordation of the Deed. Purchaser shall pay the title examination fees and the title insurance premium. Seller and Purchaser shall each pay half (1/2) of the Grantor’s Tax and Deed Recordation Taxes and half (1/2) of the costs incurred by Purchaser to obtain an ALTA survey for the Property. Other settlement expenses (except as otherwise expressly set forth in this Section 9.1) shall be paid in accordance with the customs of real estate transactions in Xxxxxxxx County, Virginia. Seller shall be responsible at its sole cost and expense for the cost to release any existing liens on the Property other than the Permitted Exceptions and other than the liens securing the Existing Indebtedness (such Existing Indebtedness to be either assumed or prepaid by Purchaser in accordance with this Agreement)Indebtedness. Purchaser will pay one-half of the escrow fees of the Escrow Agent and Seller shall be responsible for the balance of the escrow fees. Purchaser shall be solely responsible for the costs incurred in connection with obtaining, executing, recording and insuring any financing obtained by Purchaser. Purchaser and Seller each shall pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby.
Appears in 2 contracts
Samples: Agreement of Purchase and Sale (Columbia Equity Trust, Inc.), Agreement of Purchase and Sale (Columbia Equity Trust, Inc.)
