PRORATIONS AND ALLOCATIONS. (a) Rents, taxes, service con- tracts, equipment leases or other personal property financing, utility deposits, insurance and other expenses whether or not a lien, assessed or to be assessed for the tax year in which the transaction is consummated. will be prorated as to the Property to the date of the Closing based on a 365-day year.
(b) Security deposits held by Owner or paid by any lessees at the Property will be transferred to Buyer in full at Closing, including any interest earned thereon and payable to the Tenant under State law.
PRORATIONS AND ALLOCATIONS. (a) Collected rents, interest on the first mortgage, laundry income, service contracts, equipment leases or other personal property financing, utility deposits, insurance and other expenses whether or not a lien, assessed or to be assessed for the year in which the transaction is consummated will be prorated as to the Property as of the date of the Closing. All utility bills relating to the period prior to the Closing Date shall be paid by Seller. Seller shall terminate all utility relationships with respect to the Property as of the Closing Date. Buyer shall pay Seller cash for all escrows held by the existing first mortgage holder and transferred to Buyer at closing.
(b) Security deposits held by Seller or paid by any lessees at the Property will be transferred to Buyer in full at Closing, including any interest earned thereon and payable to the Tenant under State law.
(c) Real Estate taxes and personal property taxes and special assessments shall be prorated based on the custom in Louisville, Kentucky.
PRORATIONS AND ALLOCATIONS. (a) Collected rents, interest on the first mortgage, laundry income, service contracts, equipment leases or other personal property financing, utility deposits, insurance and other expenses whether or not a lien, assessed or to be assessed for the year in which the transaction is consummated will be prorated as to the Property as of the date of the Closing. All utility bills relating to the period prior to the Closing Date shall be paid by Seller. Seller shall terminate all utility relationships with respect to the Property as of the Closing Date. Buyer shall pay Seller cash at closing for all escrows held by the existing first mortgage holder or by an entity acting on behalf of that lender at Closing. With respect to any delinquent or uncollected rents at the time of Closing, either Buyer or Seller may collect or attempt to collect such rents. If collected by Buyer, Buyer shall remit to Seller (net of expenses of collection) Seller's prorated share as if such rents were collected as of Closing. If collected by Seller, Seller shall remit to Buyer (net of expenses of collection) Buyer's prorated share as if such rents were collected as of Closing. Seller shall have no right to collect or attempt to collect such rents after 90 days after Closing.
(b) Security deposits held by Seller or paid by any tenants or lessees at the Property will be transferred to Buyer in full at Closing, including any interest earned thereon and payable to the tenant or lessee under State law.
(c) Real Estate taxes and personal property taxes and special assessments shall be prorated based on the custom in Louisville, Kentucky.
(d) Seller will assign to Buyer all of Seller's right to the proceeds of a insurance policies relating to fire losses at the Property, whether such amount has yet been determined. If Seller has received any such proceeds prior to Closing, the amount received by Seller shall be credited against and applied to the cash portion of the Purchase Price.
PRORATIONS AND ALLOCATIONS. (a) Collected rents, laundry income, service contracts, equipment leases or other personal property financing, utility deposits, insurance and other expenses whether or not a lien, assessed or to be assessed for the year in which the transaction is consummated will be prorated as to the Property as of the date of the Closing. All utility bills relating to the period prior to the Closing Date shall be paid by Seller. Seller shall terminate all utility relationships with respect to the Property as of the Closing Date. Buyer shall pay Seller cash for all escrows held by the existing first mortgage holder and transferred to Buyer at closing.
(b) Security deposits held by Seller or paid by any lessees at the Property will be transferred to Buyer in full at Closing, including any interest earned thereon and payable to the Tenant under State law.
(c) Real Estate taxes and personal property taxes and special assessments shall be prorated based on the custom in Pasco County, Florida.
PRORATIONS AND ALLOCATIONS. (a) Collected rents, common area charges, escalations, interest on the first mortgage, service contracts, equipment leases or other personal property financing, utility deposits, insurance and other expenses whether or not a lien, assessed or to be assessed for the year in which the transaction is consummated will be prorated as to the Property as of the date of the Closing. All utility bills relating to the period prior to the Closing Date shall be paid by Seller. Seller shall terminate all utility relationships with respect to the Property as of the Closing Date. Buyer shall pay Seller cash for all escrows held by the existing first mortgage holder and transferred to Buyer at closing.
(b) Security deposits held by Seller or paid by any lessees at the Property will be transferred to Buyer in full at Closing, including any interest earned thereon and payable to the Tenant under State law.
(c) Real Estate taxes and personal property taxes and special assessments shall be prorated based on the custom in Buffalo, New York. Only the current installment of any special assessments shall be prorated.
PRORATIONS AND ALLOCATIONS. (a) Collected rents, real estate taxes, laundry income, service contracts, equipment leases or other personal property financing, utility deposits, insurance and other expenses whether or not a lien, assessed or to be assessed for the tax year in which the transaction is consummated will be prorated as to the Property as of the date of the Closing.
(b) Security deposits held by Seller or paid by any lessees at the Property will be transferred to Buyer in full at Closing, including any interest earned thereon and payable to the Tenant under State law.
PRORATIONS AND ALLOCATIONS. (a) Collected rents, real estate taxes, laundry income, service contracts, equipment leases or other personal property financing, utility deposits, insurance and other expenses whether or not a lien, assessed or to be assessed for the tax year in which the transaction is consummated will be prorated as to the Property as of the date of the Closing. Seller and Buyer agree to enter into a post closing adjustment agreement relative to all adjustments and uncollected rent.
(b) Security deposits held by Seller or paid by any lessees at the Property will be transferred to Buyer in full at Closing, including any interest earned thereon and payable to the Tenant under State law.
(c) Real estate taxes will be adjusted on the basis of the fiscal year for school taxes and on the basis of the calendar year for local and county taxes.
(d) Seller agrees to allow a repair credit to Buyer for $120,000 at closing in order to allow for deferred maintenance at the property.
PRORATIONS AND ALLOCATIONS. (a) Collected rents, laundry income, service contracts, equipment leases or other personal property financing, utility deposits, insurance and other expenses whether or not a lien, assessed or to be assessed for the year in which the transaction is consummated will be prorated as to the Property as of the date of the Closing. All utility bills relating to the period prior to the Closing Date shall be paid by Seller. Seller shall terminate al utility relationships with respect to the Property as of the Closing Date.
(b) Security deposits held by Seller or paid by any lessees at the Property will be transferred to Buyer in full at Closing, including any interest earned thereon and payable to the Tenant under State law.
(c) Real Estate taxes and personal property taxes and special assessments shall be prorated based on the custom in Mxxxxxxxxx County, Ohio, under the short form proration method.
PRORATIONS AND ALLOCATIONS. Seller and Buyer agree to the following prorations and allocation of costs regarding this Agreement which prorations and allocations shall be based upon the actual number of days of ownership of the Property with Buyer owning the Property as of the date of Closing:
PRORATIONS AND ALLOCATIONS. (a) Collected rents, real estate taxes, laundry income, service contracts, equipment leases or other personal property financing, utility deposits, insurance and other expenses whether or not a lien, assessed or to be assessed for the tax year in which the transaction is consummated will be prorated as to the Property as of the date of the Closing. Real Estate taxes will be prorated based on the taxes payable during the calendar year of closing, whether paid or unpaid.
(b) Security deposits held by Seller or paid by any lessees at the Property will be transferred to Buyer in full at Closing, including any interest earned thereon and payable to the Tenant under State law.
