Common use of Settlement and Closing Clause in Contracts

Settlement and Closing. Settlement shall take place on or before the Settlement Deadline referenced in Section 24(e). A Settlement" shall occur only when all of the following have been completed: (a) Buyer and Seller have signed and delivered to each other or to the escrow/closing office all documents required by this Contract, by the Lender, by written escrow instructions or by applicable law; (b) any monies required to be paid by Buyer under these documents (except for the proceeds of any new loan) have been delivered by Buyer to Seller or to the escrow/closing office in the form of collected or cleared funds; and (c) any monies required to be paid by Seller under these documents have been delivered by Seller to Buyer or to the escrow/closing office in the form of collected or cleared funds. Seller and Buyer shall each pay one-half (1/2) of the fee charged by the escrow/closing office for its services in the settlement/closing process. Taxes and assessments for the current year, rents, and interest on assumed obligations shall be prorated at Settlement as set forth in this Section. Tenant deposits (including, but not limited to, security deposits, cleaning deposits and prepaid rents) shall be paid or credited by Seller to Buyer at Settlement. Prorations set forth in this Section shall be made as of the Settlement Deadline date referenced in Section 24(e), unless otherwise agreed to in writing by the parties. Such writing could include the settlement statement. The transaction will be considered closed when Settlement has been completed, and when all of the following have been completed: (i) the proceeds of any new loan have been delivered by the Lender to Seller or to the escrow/closing office; and (ii) the applicable Closing documents have been recorded in the office of the county recorder. The actions described in parts (i) and (ii) of the preceding sentence shall be completed within four calendar days of Settlement.

Settlement and Closing. Settlement shall take place on or before the Settlement Deadline referenced in Section 24(e). A Settlement" Settlement shall occur only when all of the following have been completed: (a) Buyer and Seller have signed and delivered to each other or to the escrow/closing office all documents required by this the Contract, by the Lender, by written escrow instructions instruction or by applicable law; (b) any monies required to be paid by Buyer under these documents (except for the proceeds of any new loan) have been delivered by Buyer to Seller or to the escrow/closing office in the form of collected or cleared funds; and (c) any monies required to be paid by Seller under these documents have been delivered by Seller to Buyer or to the escrow/closing office in the form of collected or cleared funds. Seller and Buyer shall each pay one-half (1/2) of the fee charged by the escrow/closing office for its services in the settlement/closing process. Taxes and assessments for the current year, rents, rents and interest on assumed obligations obligation shall be prorated at Settlement as set forth in this Section. Tenant deposits (including, but not limited to, security deposits, cleaning deposits and prepaid rents.) shall be paid or credited by Seller to Buyer at Settlement. Prorations set forth in this Section shall be made as of the Settlement Deadline date referenced in Section 24(e), unless otherwise agreed to in writing by the parties. Such writing could include the settlement statement. The transaction will be considered closed when Settlement has been completed, and when all of the following have been completed: (i) the proceeds of any new loan have been delivered by the Lender to Seller or to the escrow/closing office; and (ii) the applicable Closing documents have been recorded in the office of the county recorder. The actions described in parts (i) and (ii) of the preceding sentence shall be completed within four calendar days of Settlement.

Settlement and Closing. Settlement shall take place on or before the Settlement Deadline referenced in Section 24(e23(d), or on a date upon which Buyer and Seller agree in writing. A “Settlement" ” shall occur only when all of the following have been completed: : (a) Buyer and Seller have signed and delivered to each other or to the escrow/closing office all documents required by this Contract, by the Lender, by written escrow instructions or by applicable law; (b) any monies required to be paid by Buyer under these documents (except for the proceeds of any new loan) have been delivered by Buyer to Seller or to the escrow/closing office in the form of collected or cleared funds; and (c) any monies required to be paid by Seller under these documents have been delivered by Seller to Buyer or to the escrow/closing office in the form of collected or cleared funds. Seller and Buyer shall each pay one-one- half (1/2½) of the fee charged by the escrow/closing office for its services in the settlement/closing process. Taxes and assessments for the current year, rents, and interest on assumed obligations shall be prorated at Settlement as set forth in this Section. Tenant deposits (including, but not limited to, security deposits, cleaning deposits and prepaid rents) shall be paid or credited by Seller to Buyer at Settlement. Prorations set forth in this Section shall be made as of the Settlement Deadline date referenced in Section 24(e23(d), unless otherwise agreed to in writing by the parties. Such writing could include the settlement statement. The transaction will be considered closed when Settlement has been completed, and when all of the following have been completed: (i) the proceeds of any new loan have been delivered by the Lender to Seller or to the escrow/closing office; and (ii) the applicable Closing documents have been recorded in the office of the county recorder. The actions described in parts (i) and (ii) of the preceding sentence shall be completed within four calendar days of Settlement. Closing shall be held at the office of the Seller's attorney, title company, or as otherwise agreed upon.

Settlement and Closing. Settlement shall take place on or before the Settlement Deadline referenced in Section 24(e). A SettlementASettlement" shall occur only when all of the following have been completed: (a) Buyer and Seller have signed and delivered to each other or to the escrow/closing office all documents required by this Contract, by the Lender, by written escrow instructions or by applicable law; (b) any monies required to be paid by Buyer under these documents (except for the proceeds of any new loan) have been delivered by Buyer to Seller or to the escrow/closing office in the form of collected or cleared funds; and (c) any monies required to be paid by Seller under these documents have been delivered by Seller to Buyer or to the escrow/closing office in the form of collected or cleared funds. Seller and Buyer shall each pay one-half (1/2) of the fee charged by the escrow/closing office for its services in the settlement/closing process. Taxes and assessments for the current year, rents, and interest on assumed obligations shall be prorated at Settlement as set forth in this Section. Tenant deposits (including, but not limited to, security deposits, cleaning deposits and prepaid rents) shall be paid or credited by Seller to Buyer at Settlement. Prorations set forth in this Section shall be made as of the Settlement Deadline date referenced in Section 24(e), unless otherwise agreed to in writing by the parties. Such writing could include the settlement statement. The transaction will be considered closed when Settlement has been completed, and when all of the following have been completed: (i) the proceeds of any new loan have been delivered by the Lender to Seller or to the escrow/closing office; and (ii) the applicable Closing documents have been recorded in the office of the county recorder. The actions described in parts (i) and (ii) of the preceding sentence shall be completed within four calendar days of Settlement.

Settlement and Closing. Settlement shall take place on or before the date that is 10 days following Substantial Completion (the “Settlement Deadline”). Settlement prior to the Settlement Deadline referenced in Section 24(e)shall require the mutual written consent of Buyer and Seller. A “Settlement" ” shall occur only when mean completion of all of the following have been completed: following: (a) Buyer and Seller have signed and delivered to each other (or to the escrow/closing office office), all documents required by this ContractAgreement, by the Lender, by written escrow instructions or and by applicable law; (b) any monies required to be paid by Buyer under these documents this Agreement (except for the proceeds of any new loanthe Loan) have been delivered by Buyer to Seller or to the escrow/closing office office, as appropriate, in the form of collected or cleared funds; and (c) any monies required to be paid by Seller under these documents this Agreement have been delivered by Seller to Buyer or to the escrow/closing office office, in the form of collected or cleared funds. Xxxxx also agrees to pay, at Settlement, each of the following: (i) an initial Association assessment in the amount equal to three months of Association dues, which will be deposited in the Association’s operating expense account; (ii) if applicable, a Master Association assessment if and as charged by the Master Association; and (iii) the transfer fee of 2% charged by the Canyons RVMA (as defined in Section 9(b) below). Future assessments shall be based on the requirements of the Association. Seller and Buyer shall each pay one-half (1/2) of the fee charged by the escrow/closing office for its services in the settlement/closing process. Taxes and assessments for the current yearyear or quarter, rentsas applicable, and interest on assumed obligations shall be prorated at Settlement as set forth in this Section. Tenant deposits (including, but not limited to, security deposits, cleaning deposits and prepaid rents) shall be paid or credited by Seller to Buyer at SettlementSection 6. Prorations set forth in this Section 6 shall be made as of the Settlement Deadline date referenced in Section 24(e), unless otherwise agreed to in writing by the parties. Such writing could include the settlement statementParties. The transaction will be considered closed (“Closing”) when Settlement has been completed, and when all of the following have been completed: (ia) the proceeds of any new loan the Loan have been delivered by the Lender to the Seller (or to the escrow/closing office); and (iib) the applicable Closing documents have been recorded in the office of the county recorder. The actions described in parts (i) and (ii) of the preceding sentence Summit County Recorder, which shall be completed occur within four calendar three business days of after Settlement.

Settlement and Closing. Settlement shall take place on or before the date that is 10 days following Substantial Completion (the “Settlement Deadline”). Settlement prior to the Settlement Deadline referenced in Section 24(e)shall require the mutual written consent of Buyer and Seller. A “Settlement" ” shall occur only when mean completion of all of the following have been completed: following: (a) Buyer and Seller have signed and delivered to each other (or to the escrow/closing office office), all documents required by this ContractAgreement, by the Lender, by written escrow instructions or and by applicable law; (b) any monies required to be paid by Buyer under these documents this Agreement (except for the proceeds of any new loanthe Loan) have been delivered by Buyer to Seller or to the escrow/closing office office, as appropriate, in the form of collected or cleared funds; and (c) any monies required to be paid by Seller under these documents this Agreement have been delivered by Seller to Buyer or to the escrow/closing office office, in the form of collected or cleared funds. Buyer also agrees to pay, at Settlement, each of the following: (i) an initial Association assessment in the amount equal to three months of Association dues, which will be deposited in the Association’s operating expense account; (ii) if applicable, a Master Association assessment if and as charged by the Master Association; and (iii) the transfer fee of 2% charged by the Canyons RVMA (as defined in Section 9(b) below). Future assessments shall be based on the requirements of the Association. Seller and Buyer shall each pay one-half (1/2) of the fee charged by the escrow/closing office for its services in the settlement/closing process. Taxes and assessments for the current yearyear or quarter, rentsas applicable, and interest on assumed obligations shall be prorated at Settlement as set forth in this Section. Tenant deposits (including, but not limited to, security deposits, cleaning deposits and prepaid rents) shall be paid or credited by Seller to Buyer at SettlementSection 6. Prorations set forth in this Section 6 shall be made as of the Settlement Deadline date referenced in Section 24(e), unless otherwise agreed to in writing by the parties. Such writing could include the settlement statementParties. The transaction will be considered closed (“Closing”) when Settlement has been completed, and when all of the following have been completed: (ia) the proceeds of any new loan the Loan have been delivered by the Lender to the Seller (or to the escrow/closing office); and (iib) the applicable Closing documents have been recorded in the office of the county recorder. The actions described in parts (i) and (ii) of the preceding sentence Summit County Recorder, which shall be completed occur within four calendar three business days of after Settlement.

Settlement and Closing. Settlement shall take place on or before the Settlement Deadline referenced in Section 24(e). A Settlement" Settlement shall occur only when all of the following have been completed: (a) Buyer and Seller have signed and delivered to each other or to the escrow/closing escrow .closing office all documents required by this Contract, by the Lender, by written escrow instructions or by applicable law; (b) any monies required to be paid aid by Buyer under these documents (except for the proceeds of any a new loan) have been delivered by Buyer to Seller or to the escrow/closing office in the form of collected or cleared funds; and (c) any monies required to be paid by Seller under these documents have been delivered by Seller to Buyer or to the escrow/closing office in the form of collected or cleared funds. Seller and Buyer shall each pay one-half (1/2) of the fee charged by the escrow/closing office for its services in the settlement/closing process. Taxes and assessments for the current year, rents, and interest on assumed obligations shall be prorated at Settlement as set forth in this Section. Tenant deposits (including, but not limited to, security deposits, cleaning deposits and prepaid rents) shall be paid or credited by Seller to Buyer at Settlement. Prorations set forth in this Section shall be made as of the Settlement Deadline date referenced in on Section 24(e), unless otherwise agreed to in writing by the parties. Such writing could include the settlement statement. The transaction will be considered closed when Settlement has been completed, and when all of the following have been completed: (i) the proceeds of any new loan have been delivered by the Lender to Seller or to the escrow/closing office; : and (ii) the applicable Closing documents have been recorded in the office of the county recorder. The actions described in parts (i) and (ii) of the preceding sentence shall be completed within four calendar days of Settlement.

Settlement and Closing. Seller shall provide Buyer written notice of Substantial Completion of the Residence. Settlement shall take place on or before the Settlement Deadline referenced in Section 24(e24(g), or on a date upon which Buyer and Seller agree in writing. A "Settlement" shall occur only when all of the following have been completed: : (a) Buyer and Seller have signed and delivered to each other (or to the escrow/closing office office), all documents required by this Contract, by the Lender, by written escrow instructions or and by applicable law; (b) any monies required to be paid by Buyer under these documents (except for the proceeds of any new loan) have been delivered by Buyer to Seller or to the escrow/closing office office, as appropriate, in the form of collected or cleared funds; and (c) any monies moneys required to be paid by Seller under these documents have been delivered by Seller to Buyer or to the escrow/closing office office, as appropriate, in the form of collected or cleared funds. Seller and Buyer shall each pay one-half (1/2½) of the fee charged by the escrow/closing office for its services in the settlement/closing process. Taxes and assessments for the current year, rents, and interest on assumed obligations shall be prorated at Settlement as set forth in this Section. Tenant deposits (including, but not limited to, security deposits, cleaning deposits and prepaid rents) shall be paid or credited by Seller to Buyer at Settlement. Prorations set forth in this Section shall be made as of the Settlement Deadline date referenced in Section 24(e24(g), unless otherwise agreed to in writing by the parties. Such writing could include the settlement statement. The transaction will be considered closed when Settlement has been completed, and when all of the following have been completed: (ia) the proceeds of any new loan have been delivered by the Lender to Seller (or to the escrow/closing office); and (iib) the applicable Closing documents have been recorded in the office of the county recorder. The actions described in parts (ia) and (iib) of the preceding sentence shall be completed within four calendar days of after Settlement.