Common use of Allowance for Unpaid Taxes, etc Clause in Contracts

Allowance for Unpaid Taxes, etc. Seller has the option to credit Purchaser as an adjustment of the purchase price with the amount of any unpaid taxes, assessments, water charges and sewer rents, together with any interest and penalties thereon to a date not less than __________ business days after closing, provided that official bills therefor computed to said date are produced at closing. Use of Purchase Price to Pay Encumbrances: If there is anything else affecting the sale which Seller is obligated to pay and discharge at closing, Seller may use any portion of the balance of the purchase price to discharge it. As an alternative, Seller may deposit money with the title insurance company employed by Purchaser and required by it to assure its discharge; but only if the title insurance company will insure Purchaser's title clear of the matter or insure against its enforcement out of the Premises. Upon request, made within a reasonable time before closing, the Purchaser agrees to provide separate certified checks as requested to assist in clearing up these matters. Affidavit as to Judgments, Bankruptcies, Etc.: If a title examination discloses judgments, bankruptcies or other returns against persons having names the same as or similar to that of Seller, Seller shall deliver a satisfactory detailed affidavit at closing showing that they are not against Seller.

Allowance for Unpaid Taxes, etc. Seller has the option to credit Purchaser as an adjustment of the purchase price with the amount of any unpaid taxes, assessments, water charges and sewer rents, together with any interest and penalties thereon to a date not less than __________ business days after closing, provided that official bills therefor computed to said date are produced at closing. Use of Purchase Price to Pay Encumbrances: If there is anything else affecting the sale which Seller is obligated to pay and discharge at closing, Seller may use any portion of the balance of the purchase price to discharge it. As an alternative, Seller may deposit money with the title insurance company employed by Purchaser and required by it to assure its discharge; but only if the title insurance company will insure Purchaser's title clear of the matter or insure against its enforcement out of the Premises. Upon request, made within a reasonable time before closing, the Purchaser agrees to provide separate certified checks as requested to assist in clearing up these matters. Affidavit as to Judgments, Bankruptcies, Etc.: If a title examination discloses judgments, bankruptcies or other returns against persons having names the same as or similar to that of Seller, Seller shall deliver a satisfactory detailed affidavit at closing showing that they are not against Seller.