Common use of SETTLEMENT AND OTHER EXPENSES Clause in Contracts

SETTLEMENT AND OTHER EXPENSES. A. Expenses payable by Seller (Seller's Expenses) at or before closing: Releases of existing liens, including prepayment penalties and recording fees; tax statements or certificates; preparation of deed; one-half of escrow fee; and other expenses payable by Seller under this contract. B. Expenses payable by Buyer (Buyer's Expenses): Appraisal fees; loan application fees; origination charges; credit reports; preparation of loan documents; interest on the notes from date of disbursement to one month prior to dates of first monthly payments; recording fees; copies of easements and restrictions; loan title policy with endorsements required by lender; loan-related inspection fees; photos; amortization schedules; one-half of escrow fee; all prepaid items, including required premiums for flood and hazard insurance, reserve deposits for insurance, ad valorem taxes and special governmental assessments; final compliance inspection; courier fee; repair inspection; underwriting fee; wire transfer fee; expenses incident to any loan; Private Mortgage Insurance Premium (PMI), Mortgage Insurance Premium (MIP) as required by the lender; and other expenses payable by Buyer under this contract. C. Buyer shall pay any and all Association fees, deposits, reserves and other charges resulting from the transfer of the Property not to exceed $200.00 per unit and Seller shall pay any excess. This paragraph does not apply to: (i) regular periodic maintenance fees, assessments, or dues (including prepaid items) that are prorated pursuant to this agreement, and (ii) costs and fees provided by Paragraph 2.