PRORATIONS; CREDITS. The following recurring items will be made current (if applicable) and prorated as of 473 the day prior to Closing Date, or date of occupancy if occupancy occurs before Closing Date: real estate taxes 474 (including special benefit tax assessments imposed by a CDD), interest, bonds, association fees, insurance, rents 475 and other expenses of Property. Buyer shall have option of taking over existing policies of insurance, if assumable, 476 in which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required 477 by prorations to be made through day prior to Closing. Advance rent and security deposits, if any, will be credited 478 to Buyer. Escrow deposits held by Seller’s mortgagee will be paid to Seller. Taxes shall be prorated based on 479 current year’s tax. If Closing occurs on a date when current year’s millage is not fixed but current year’s assessment 480 is available, taxes will be prorated based upon such assessment and prior year’s millage. If current year’s 481 assessment is not available, then taxes will be prorated on prior year’s tax. If there are completed improvements 482 on the Real Property by January 1st of year of Closing, which improvements were not in existence on January 1st 483 of prior year, then taxes shall be prorated based upon prior year’s millage and at an equitable assessment to be 484 agreed upon between the parties, failing which, request shall be made to the County Property Appraiser for an 485 informal assessment taking into account available exemptions. In all cases, due allowance shall be made for the 486 maximum allowable discounts and applicable homestead and other exemptions. A tax proration based on an 487 estimate shall, at either party’s request, be readjusted upon receipt of current year’s tax xxxx. This STANDARD K 488 shall survive Closing. 489 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK-THROUGH: Seller 490 shall, upon reasonable notice, provide utilities service and access to Property for appraisals and inspections, 491 including a walk-through (or follow-up walk-through if necessary) prior to Closing.
PRORATIONS; CREDITS. Taxes, assessments, rent, interest, insurance and other expenses of the Premises shall be prorated through the day before closing unless they are the responsibility of Tenant under the Lease, in which case they shall not be prorated. Tenant shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at closing shall be increased or decreased as may be required by prorations to be made through the day prior to closing. Advance rent and security deposits will be credited to Tenant. Escrow deposits held by any mortgagee will be credited to Tenant if Tenant has provided the funds for the escrow, otherwise they will be paid to Landlord. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If closing occurs at a date when the current year's millage is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and the prior year's millage. If the current year's assessment is not available, then taxes will be prorated on the prior year's tax. Tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax xxxx on condition that a statement to that effect is signed at closing.
PRORATIONS; CREDITS. Taxes, assessments and other expenses of the Property shall be prorated through the day before closing. Cash at closing shall be increased or decreased as may be required by prorations to be made through the day prior to closing, or occupancy, if occupancy occurs before closing. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If closing occurs at a date when the current year's millage is not fixed and current year's assessment is available, taxes will be prorated based on such assessment and prior year's millage. If current year's assessment is not available, then taxes will be prorated on prior year's tax. A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill xx condition that a statement to that effect is signed at closing.
PRORATIONS; CREDITS. (a) Rents, real property taxes and all other costs and expenses associated with the ownership and maintenance of the Property shall be prorated on this transaction as of the Closing Date in accordance with the procedures set forth on Exhibit “E” attached hereto. The obligations of Seller and Purchaser with respect to prorations shall survive Closing. Western Pacific’s lease provides for six months’ free rent at the starting lease rate of $45,784.00/month. Purchaser shall be credited at Close of Escrow for this free rent in the amount of $274,704.00. At Close of Escrow, Purchaser shall be credited $40,436 for 4 months of reduced rent payments from Xxxxxxx’s Produce based on the terms of its lease, and $35,000 to cover the tenant improvement allowance under the Western Pacific Lease.
PRORATIONS; CREDITS. All prorations under this Section (i) shall be made as of 12:00 midnight on the day immediately preceding the Close of Escrow (the "Proration Cutoff'); and (ii) shall be made on the basis of a thirty (30) day month. The following items shall be credited to the parties or shall be prorated by the parties as of the Close of Escrow, as applicable, with the Seller responsible for expenses and entitled to revenues accruing prior to the Proration Cutoff, and Buyer responsible for expenses and entitled to revenues accruing after the Proration Cutoff:
PRORATIONS; CREDITS. All prorations under this Section (i) shall be made as of 12:01 a.m. on the day of the Close of Escrow (the “Proration Cutoff”); and (ii) shall be made on the basis of the actual number of days in the appropriate proration periods. Pursuant to Section 3.2.1, the Proration Schedule shall be mutually approved by Buyer and Seller and delivered to Escrow Holder at least two (2) business days prior to the Close of Escrow. The following items shall be credited to the parties or shall be prorated by the parties as of the Close of Escrow, as applicable, with Seller responsible for expenses and entitled to revenues accruing prior to the Proration Cutoff, and Buyer responsible for expenses and entitled to revenues accruing after the Proration Cutoff:
PRORATIONS; CREDITS. Taxes, assessments, rent, interest, insurance and other expenses of the Property shall be prorated through the day before Closing. Buyer shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to be made through day prior to Closing, or occupancy, if occupancy occurs before Closing. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing occurs at a date when the current year's millage is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and prior year's millage. If current year's assessment is not available, then taxes will be prorated on the prior year's tax. If there are completed improvements on the Real Property by January 1st of year of Closing, which improvements were not in existence on January 1st of prior year, then taxes shall be prorated based upon prior year's millage and at an equitable assessment to be agreed upon between the parties; failing which, request shall be made to the County Property Appraiser for an informal assessment taking into account available exemptions. A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax xxxx on condition that a statement to that effect is signed at Closing.
PRORATIONS; CREDITS. The following prorations and credits shall be made between Seller and Buyer on the Close of Escrow, computed as of the Close of Escrow:
PRORATIONS; CREDITS. The following recurring items will be made current (if applicable) and prorated as of the day prior to Closing Date, or date of occupancy if occupancy occurs before Closing Date: real estate taxes (including special benefit tax assessments imposed by a CDD), interest, bonds, association fees, insurance, rents and other expenses of Property. Buyer shall have option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to be made through day prior to Closing. Advance rent and security deposits, if any, will be credited to Buyer. Escrow deposits held by Seller’s mortgagee will be paid to Seller. Taxes shall be prorated based on current year’s tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing occurs on a date when current year’s millage is not fixed but current year’s assessment is available, taxes will be prorated based upon such assessment and prior year’s millage. If current year’s assessment is not available, then taxes will be prorated on prior year’s tax. If there are completed improvements on the Real Property by January 1st of year of Closing, which improvements were not in existence on January 1st of prior year, then taxes shall be prorated based upon prior year’s 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 584 585 STANDARDS FOR REAL ESTATE TRANSACTIONS (“STANDARDS”) CONTINUED millage and at an equitable assessment to be agreed upon between the parties, failing which, request shall be made to the County Property Appraiser for an informal assessment taking into account available exemptions. A tax proration based on an estimate shall, at either party’s request, be readjusted upon receipt of current year’s tax xxxx. This STANDARD K shall survive Closing.
PRORATIONS; CREDITS
