Prorations and Expenses. The following items, except as specifically provided in this Contract to the contrary, shall be prorated as of 12:01 a.m. Eastern Time (the “Adjustment Time”) on the Flying J Closing Date (as hereinafter defined), and shall increase or decrease the Flying J Purchase Price to be paid by Buyer on the Flying J Closing Date, as follows:
a. Any rent under the Flying J Lease which has actually been received by Seller as of the Flying J Closing Date shall be prorated based on the actual number of days in the month in which the Flying J Closing occurs, with any rent allocable to the period following the Adjustment Time to be credited to Buyer, it being understood and agreed that if there is any arrearage in such rent as of the Flying J Closing, Buyer shall have the sole right to collect and keep such arrearage from and after the Flying J Closing;
b. [Intentionally Omitted;]
c. Real estate and personal property taxes and assessments shall be prorated on the basis of the tax xxxx for the tax year in which the Flying J Closing occurs and the number of days in such period the Property will have been owned by Seller and Buyer, respectively (provided that there shall be no such proration of such taxes and assessments to the extent that it is the obligation of the Flying J Tenant to pay same under the Flying J Lease); and
d. Any other items, the credit or proration of which are necessary to fairly allocate the benefits and burdens of ownership of the Property, which such items shall be prorated in accordance with customary practices in the jurisdiction in which the applicable Flying J Property is located. In the event that accurate prorations and other adjustments cannot be made at the Flying J Closing because current bills are not available or the amount to be adjusted is not yet ascertainable, the Parties shall prorate on the best available information. All prorations under this Section 3 shall be final and binding at the Final J Closing and shall be paid in immediately available federal funds wire transferred between Buyer and Seller as applicable.
Prorations and Expenses. 1. Purchaser may order, at Purchaser’s cost, a commitment for a title insurance policy in the full amount of the Purchase Price, covering title to the Property on or after the date hereof, showing title in Seller. If Purchaser chooses to order a commitment for a title insurance policy, Purchaser shall pay for the title policy and all costs for the final search charged shall be the sole cost of the Purchaser.
2. Seller shall bear all risk of loss or damage prior to closing.
Prorations and Expenses. The following items shall be apportioned as of 11:59 P.M. of the day immediately preceding the Closing Date:
9.1 At the Closing, the real property taxes and assessments on the Farm Parcel shall be prorated as of the Closing Date.
9.2 As a result of Buyer’s obligations under the Crop Lease, there will be no proration for, and Buyer will be solely responsible for, the costs, expenses and fees for services for electricity, gas, water, refuse collection and other utilities or services for the Farm Parcel.
9.3 Seller and Borrower shall pay all costs of discharging any existing deeds of trust related to its respective Premises. Buyer will be responsible for the full cost of all tax and recording fees on any documents relating to the transfer of Seller’s right, title and interest in and to the Farm Parcel (including, without limitation, any transfer tax) and relating to the Deed of Trust (including, without limitation, any deed of trust tax), and all sales taxes. Buyer shall pay the cost of the Title Commitment and title insurance premiums. Buyer shall be responsible for all costs related to its due diligence investigations. Each party shall pay fifty percent (50%) of the escrow charges of the Title Company in connection with the Closing of this transaction. Each party shall pay their respective attorneys’ fees. All other Closing costs shall be paid for in accordance with local custom in Delta County, Colorado, for commercial properties.
Prorations and Expenses. The following items shall be apportioned as of 11:59 P.M. of the day immediately preceding the Closing Date:
Prorations and Expenses. 1. Purchaser shall bear the cost of the commitment for a title insurance policy in the full amount of the Purchase Price, covering title to the Subject Property on or after the date hereof, showing title in Seller. If Purchaser chooses to order a commitment for a title insurance policy, Purchaser shall pay for the title policy and all costs for the final search shall be charged to the Purchaser. Purchaser must also pay for the cost of recording the Corporate Warranty Deed and one-half of all fees and charges of closing imposed by the title agent.
2. Seller shall bear all risk of loss or damage prior to closing, the cost of all real estate taxes prorated to the date of closing, transfer taxes, if any, preparation of the deed and one-half of all fees and charges of closing imposed by the title agent.
Prorations and Expenses. Real estate ad valorem taxes applicable to the Property ("Taxes") shall be prorated as of the Closing Date on the basis of the calendar year in which the Closing Date occurs, regardless of when such Taxes become a lien or are payable. If the rate of any such Taxes shall not be fixed prior to the Closing Date, the adjustment and proration thereof on the Closing Date shall be upon the basis of the rate for the preceding calendar year applied to the latest assessed valuation, and the same shall be appropriately and promptly adjusted after Closing Date, if necessary, between Seller and Buyer when the rate is fixed for the calendar year during which the Closing occurs. All prior unpaid taxes, mortgages and liens including assessments, pending or confirmed, water and sewer fees and other sums due any governmental authority, if any shall be paid by the Seller at or prior to the Closing Date. All revenues and expenses of the Property shall be pro-rated as of the Closing Date. The costs of any survey, title commitment, title policies, recording fees, and inspection costs, shall be paid by Buyer. At the Closing Date, Buyer shall receive a credit to reimburse Buyer for the reasonable costs for the "Five Part Search" (includes UCC, judgment, lien, litigation and bankruptcy search) to be ordered from CT Corporation (estimated to be approximately $1500.00), outside legal fees pertaining to the transfer of limited partnership interests (estimated to be approximately $1000.00 to $1500.00) and the Fairway and Non-Imputation title endorsements. Buyer and Seller understand that the above costs are estimates only but Buyer will make reasonable efforts to keep such costs as close to the estimates as reasonably possible. Buyer to furnish to Seller copies of invoices pertaining to such costs.
Prorations and Expenses. Prior to the closing, Seller shall pay all real estate and intangibles taxes and assessments with respect to the Property (the “Taxes”) which are then due and payable. The Taxes due and payable for the calendar year in which closing occurs shall be prorated between Seller and Purchaser, as of the date of closing. If the tax bills are not available as of the date of closing, the amount of the prorated taxes and assessments shall be based on the most recent tax bills and a provision shall be added to the settlement statement that the Purchaser and Seller agree to adjust the proration accordingly when the current year’s tax bills are issued. Seller also shall be fully responsible for payment of any “rollback” taxes or similar charges which may become due on the Property, before or after closing, and which pertain to the period of Seller’s ownership of the Property. The cost of preparing and recording the Deed, including any transfer or recording tax, shall be paid by Seller. Purchaser shall pay for the cost of any title insurance policy issued in connection with this transaction. Purchaser and Seller shall each pay their own attorneys fees in connection with this transaction. All other escrow fees shall be divided equally between Seller and the Purchaser.
Prorations and Expenses. (a) Taxes on equipment shall be prorated as of the Closing Date between the Seller and the Purchaser. Any sales tax on non-exempted Assets shall be the sole responsibility of the Seller.
(b) The parties hereto shall pay their respective legal, accounting and other expenses incurred in negotiating and consummating this Agreement.
Prorations and Expenses. Real estate ad valorem taxes applicable to the Property ("Taxes") shall be prorated as of the Closing Date on the basis of the calendar year in which the Closing Date occurs, regardless of when such Taxes become a lien or are payable. If the rate of any such Taxes shall not be fixed prior to the Closing Date, the adjustment and proration thereof on the Closing Date shall be upon the basis of the rate for the preceding calendar year applied to the latest assessed valuation, and the same shall be appropriately and promptly adjusted after Closing Date, if necessary, between Seller and Buyer when the rate is fixed for the calendar year during which the Closing occurs. All prior unpaid taxes, mortgages and liens including assessments, pending or confirmed, water and sewer fees and other sums due any governmental authority, if any shall be paid by the Seller at or prior to the Closing Date. All revenues and expenses of the Property shall be pro-rated as of the Closing Date. The costs of any survey, title commitment, title policies, recording and/or transfer fees or taxes shall be shared equally by Buyer and Seller. Any inspection costs, shall be paid by Buyer.
Prorations and Expenses. Except as provided herein, the property taxes and homeowner or condominium fees, if any, are to be prorated from date of closing. All prior unpaid taxes or liens, if any, shall be paid by the SELLER. The cost of preparing the Deed shall be paid by BUYER . Other expenses shall be paid as follows: (a) closing/escrow fees shall be split evenly between PURCHASER and SELLER;
(b) the premium for a standard ALTA Owner’s Title Policy and ALTA Lender’s Title Policy shall be paid by the PURCHASER; and (c) PURCHASER shall pay all costs associated with any financing, all recording costs and all costs of any inspections or surveys.
