Closing Expenses and Prorations. (a) Seller shall pay for the cost of the title commitment for the amount of the Purchase Price issued pursuant to said title commitment on the Property, all transfer taxes, escrow/closing fees charged by the Title Company, the cost of releasing any mortgages or encumbrances on the Property, including the recording of the releases of all such mortgages and encumbrances, and Seller’s attorney’s fees and expenses (including preparation of the warranty deed and all other transfer documents).
Closing Expenses and Prorations. TPL shall pay transfer or documentary taxes on the deed of conveyance to the City, if any. The City shall pay for the cost of title examination, preparation of the title insurance commitment, the owner's title insurance premium, and all other costs associated with the preparation and delivery of the owner's title insurance policy for the City’s acquisition of the Property, if such policy is obtained, and the recording fee for the deed of conveyance, if any. Real property taxes and assessments ("Tax" or "Taxes") for the current year shall be prorated as of Closing, treating the City as owner as of the date of TPL’s acquisition of the Property. TPL shall provide to the City the most recent real property tax bill(s) for the Property. Taxes shall be prorated based on the current year's Tax, if known. If Closing occurs at a date when the current year's Taxes are not yet fixed, and the current year's assessment is available, Taxes will be prorated based upon such assessment and the prior year's millage. If the current year's assessment is not available, Taxes will be prorated based on the prior year's Tax. However, any Tax proration based on an estimate shall be adjusted promptly, at the request of either party, upon receipt of the current year's tax bill, and a statement to that effect shall be included in the closing statement. The City of Xxxxx Springs shall remit ten thousand dollars ($10,000.00) at closing to the Donor to cover the costs of Xxxxx’s efforts in obtaining, holding and conveying the subject lands to the Donee. Other fees and charges shall be allocated in accordance with the laws of the State of Georgia and the customary practice of Xxxxxx County. All other expenses, including, without limitation, attorneys' fees, shall be paid by the party incurring the same.
Closing Expenses and Prorations. (a) The Contributor shall pay the following costs and expenses, if any: (i) the title search and any title commitment for the owner’s title insurance policy, including any updates thereto, and the cost of the owner’s title insurance policy; (ii) any property survey, including any updates thereto if requested by the Recipient; however in the event Recipient requests a survey, there will be a day-for-day added to the Closing date (or the forty five (45) day extension) for each day it takes to complete a survey; (iii) all real estate transfer tax, documentary stamp tax or similar tax which becomes payable by reason of the transfer of the Property (whether imposed by state, county, local municipality or otherwise); (iv) half of any escrow and closing fees charged by the Title Company; (v) the cost of releasing any mortgages or other Liens on the Property, including the recording of the releases of all such mortgages and Liens; and (vi) Contributor’s attorney’s fees and expenses (including preparation of the warranty deed and all other transfer documents).
Closing Expenses and Prorations x.Xxxxx shall be solely responsible for the payment of any tap fees or similar fees charged by the applicable governmental authorities relating specifically to the permitting of and construction of the Library on the Property; all provided, however, that Seller shall be responsible (without reimbursement from Buyer) for all Community level tap or similar fees (meaning those not relating to building-by-building tie ins to the larger system).
Closing Expenses and Prorations a. The following expenses shall be paid by the Seller: i.) Documentary stamps exceeding $500,000 in the approximate amount of $33,715.00; ii.) recording fees, and the cost of preparing all documents necessary to satisfy the requirements of the title insurance commitment or remove encumbrances on Seller’s title. b. The following expenses shall be paid by the Buyer: i.) Documentary stamps in the amount of $500,000.00; ii.) Boundary survey; iii.) Environmental Site Assessment; iv.) the cost of title examination, preparation of the title insurance commitment, the owner’s title insurance premium, and all other costs associated with the preparation and delivery of the owner’s title insurance policy, and the costs, if any, to perfect the Seller’s title, including the costs or fees of the title insurance agency or attorney. c. Real property taxes and assessments (“Tax” or “Taxes”) for the current year shall be prorated as of Closing, treating the Buyer as the owner of the Property on the date of Closing. Seller shall provide to Buyer the most recent real property tax xxxx(s) for the Property. i.) Taxes shall be prorated based on the current year’s Tax, if known; ii.) If closing occurs at a date when the current year’s Taxes are not yet fixed, and the current year’s assessment is available, Taxes will be prorated based upon such Assessment and the prior year’s millage; iii.) If the current year’s assessment is not available, Taxes will be prorated based on the prior year’s Tax. However, any Tax proration based on an estimate shall be promptly adjusted, at the request of either party, upon receipt of the current year’s tax xxxx, and a statement to that effect shall be included in the closing statement. Any rents or other income derived from the leasing or licensing of the Property or any part thereof, sanitary sewer taxes and utility charges shall also be prorated as of Closing. d. All other expenses including, but not limited to attorney’s fees, shall be paid by the party incurring the same.
Closing Expenses and Prorations a) The expense of the title insurance search and premium, documentary stamps on the deed, if any, and the cost of recording the deed of conveyance shall be paid by Purchaser.
Closing Expenses and Prorations a. The following expenses shall be paid by the Seller:
Closing Expenses and Prorations. The following matters shall be ------------------------------- prorated and transacted through Escrow, except as otherwise indicated, at Closing by Seller and Buyer:
Closing Expenses and Prorations. Seller shall pay all statutorily required transfer taxes, if any, and all costs associated with the recording of the Deed, the CR and any other instruments. Taxes for the then-current fiscal year shall be apportioned as follows: if taxes are outstanding as of the Closing Date, taxes will be apportioned as of the Closing Date in accordance with X.X. x. 59, §72A; if, however, taxes have been paid through and past the Closing Date, such payments shall not be refunded, it being acknowledged that Buyer has no funds to refund Seller for such taxes paid and Buyer, being tax exempt, has no obligation to pay taxes upon acquisition of the Subject Property. Each party shall be responsible for its own legal expenses and the cost of its own title policies, if any.
Closing Expenses and Prorations. Buyer shall be solely responsible for the payment of any tap fees or similar fees charged by the applicable governmental authorities relating specifically to the permitting of and construction of the Library on the Property; all provided, however, that Seller shall be responsible (without reimbursement from Buyer) for all Community level tap or similar fees (meaning those not relating to building-by-building tie ins to the larger system). Buyer shall pay for the cost of the Commitment and the title policy issued in connection therewith and for the cost of any Survey. Buyer will pay for the cost of recording the Act of Cash Sale and Mortgage (if applicable). All real estate taxes, and all other public or governmental charges and public assessments and Library Dues (as defined below) levied and/or assessed against the Property for the year of Closing (including metropolitan district, sanitary commission, benefit charges, liens or encumbrances for sewer, water, drainage or other public improvements whether completed or commenced on or prior to the date hereof or subsequent thereto), shall be adjusted and prorated between the Parties as of the day prior to the Closing (with Seller paying/being responsible for all of the same through the day prior to Closing) and shall thereafter be assumed and paid by Buyer, whether or not they have been levied as of the date of Closing. The prorations shall be final and Seller shall have no liability for any increase in actual taxes for the year of Closing. Each Party shall pay its own attorneys’ fees and costs.
