Common use of Items Not Prorated Clause in Contracts

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, and Buyer shall responsible for arranging for its own insurance as of the Close of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of Escrow, including the posting of any required deposits, and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of EscrowClosing Date, the Title Company shall have received, or shall have made satisfactory arrangements to receive post-funding, a duly executed release of lien to be recorded in the real property of the parish where the Property will not be subject is located, with respect to any financing arranged by Sellereach mortgage or deed of trust encumbering the Property; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (c) utilities, including telephone, electricity, water and gas, shall be read on not more than fifteen (15) days prior to the Close of Escrow, Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of EscrowClosing Date, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of EscrowClosing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e6.3(b) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of EscrowClosing Date, the Property will not be subject to any financing arranged by Seller, except for the Existing Loan; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (c) utilities, including telephone, electricity, water water, and gas, shall be read on the Close of Escrow, Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of EscrowClosing Date, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of EscrowClosing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e) aboveprovide.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none all of the insurance policies relating to the Company, Seller and/or the Property will be assigned cancelled or terminated by Parent with respect to Buyerthe Company, Seller and the Property effective as of the Closing Date and Buyer shall responsible for arranging for its own insurance for the Company, Seller and the Property as of the Close of EscrowClosing; and (cb) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, Closing and Buyer shall be responsible for for, and shall provide Parent with evidence of, all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of EscrowClosing, including the posting of any required deposits, and Seller Parent shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments attributable to Seller to the extent applicable to the period prior to the Close of EscrowClosing, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e7.7.l(g) above.,

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (cb) to the extent the same are in the name of Seller, utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities in the name of Seller to be transferred to the name of Buyer on the Close of EscrowClosing Date, including the posting of any required depositsdeposits (it being understood, however, that Seller shall be entitled to a credit at the Closing in the amount of any utility deposits which it or its predecessors have made prior to the Closing Date, to the extent the same are transferred to Buyer, and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of EscrowClosing Date, and any utility deposits for which it or its predecessors may have posteddoes not receive a credit hereunder). Accordingly, there will be no prorations for debt service, insurance or utilitiesutilities (except to the extent provided herein for utility deposits). In Notwithstanding the foregoing, in the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e6D(1)(e) above.. (4)

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; provided, however, that Seller may use proceeds from the sale to payoff any financing through Escrow concurrently with the Close of Escrow; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of Escrow; and (c) final reading of all meters for all public utilities, including telephone, electricity, sewer, water and gas, shall be ordered read by Seller on the Close of Escrow, Escrow and all charges to said date shall be paid by Seller and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of Escrow, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e) 6.7.2 above. Seller shall obtain any statements required by any governmental authority respecting the status of the account for any such utilities.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on or as close as practicable to the Close of Escrow, Escrow and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of Escrow, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e) 6.7.2 above.

Items Not Prorated. Seller and Buyer agree that (ai) on the Close of EscrowClosing Date, the Property will not be subject to any financing arranged by Seller; (bii) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (ciii) utilities, including telephone, electricity, water water, and gas, shall be read on the Close of Escrow, Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of EscrowClosing Date, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of EscrowClosing Date, and any utility deposits which it or its predecessors may have posted, regardless of when such refunds, overpayments or deposits are returned to Seller. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e) above5.8.2(e).

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, Escrow and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of Escrow, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e) Paragraph 6.7.2 above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of EscrowClosing Date, the Property will not be subject to any financing arranged by SellerSeller (other than the HUD Loan); (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (c) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of EscrowClosing Date, including the posting of any required deposits, deposits and the applicable Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of EscrowClosing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt serviceservice (other than the HUD Loan), insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e) 6.8.2 above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall responsible for arranging for its own insurance as of the Close of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, Escrow and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of Escrow, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event If a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(esubparagraph (1)(c) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of EscrowClosing Date, the Property will not be subject to any financing arranged by SellerSeller except as terminated as of the Closing Date; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of EscrowClosing Date; and (c) utilities, including telephone, electricity, water water, and gas, shall be read on the Close of Escrow, Closing Date and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of EscrowClosing Date, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of EscrowClosing Date, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(e) aboveprovide.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall responsible for arranging for its own insurance as of the Close of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be he read on the Close of Escrow, Escrow and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be he transferred to the name of Buyer on the Close of Escrow, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event , If a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(esubparagraph (1)(e) above.

Items Not Prorated. Seller and Buyer agree that (a) on the Close of Escrow, other than the Loan, the Property will not be subject to any financing arranged by Seller; (b) none of the insurance policies relating to the Property will be assigned to Buyer, Buyer and Buyer shall be responsible for arranging for its own insurance as of the Close of Escrow; and (c) utilities, including telephone, electricity, water and gas, shall be read on the Close of Escrow, Escrow and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to the name of Buyer on the Close of Escrow, including the posting of any required deposits, deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to the extent applicable to the period prior to the Close of Escrow, and any utility deposits which it or its predecessors may have posted. Accordingly, there will be no prorations for debt service, insurance or utilities. In the event a meter reading is unavailable for any particular utility, such utility shall be prorated in the manner provided in Section 6.7.1(esubparagraph (1)(e) above. Interest and any required principal payments due in the month of Closing on the Loan shall be ratably prorated. Seller shall receive a credit in the amount of any impounds or deposits with Lender if the same are assigned to Buyer at Closing.