Common use of Fees Payment and Expenses Clause in Contracts

Fees Payment and Expenses. Buyer and/or Seller covenants and agrees to pay to Lender at Closing the following (the “Required Payments”): (a) $700,000.00, which represents the H.X. Xxxxx Escrow Fund. (b) Lender’s processing and modification fees. (c) Attorneys’ fees for Lender’s attorneys to document and close this Transfer and Assumption. The Required Payments and any other fees and adjustments due and owing under the Loan Documents or in connection with the Transfer and Assumption shall be paid in accordance with Lender’s settlement charges statement (the “Settlement Statement”) delivered at Closing for signature by Buyer and Seller. In addition, at Closing, Buyer and/or Seller shall pay all of Lender’s attorneys’ fees incurred in connection with this Agreement or the Transfer and Assumption in the amount set forth on the Settlement Statement, which amount shall be deemed a Required Payment pursuant to the terms of this Agreement.