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.
Appears in 9 contracts
Samples: Real Estate Purchase Agreement (Realmark Property Investors LTD Partnership Iii), Real Estate Purchase Agreement (Realmark Property Investors LTD Partnership Ii), Real Estate Purchase Agreement (Realmark Property Investors LTD Partnership-Iv)
PRORATIONS AND ALLOCATIONS. (a) Rents, taxes, service con- tractscont- racts, 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.
Appears in 1 contract
Samples: Real Estate Purchase Agreement (Realmark Property Investors LTD Partnership-Iv)
