Settlement Charges; Prorations and Adjustments. (a) Contributor shall pay for the title examination, the title insurance premiums, ALTA basic As-Built survey of the Property, any Illinois State and County and municipal transfer taxes and recording fees in connection with this transaction. FWRLP shall pay any other costs incurred by FWRLP in connection with studying the Property and closing this transaction. FWRLP and Contributor shall each pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby and shall share equally the cost of any Title Company escrow closing charges, including any New York-style closing fees.
Settlement Charges; Prorations and Adjustments. FWRLP shall pay for the title examination, the title insurance premium, notary fees and other such charges incident to Closing. Any real estate transfer and recording fees and taxes and documentary stamps in connection with this transaction, if any, shall be borne by FWRLP; provided, however, that the Gross Consideration under Section 2(a) hereof shall be reduced by an amount equal to one-half (1/2) of the real estate transfer and recording fees and taxes payable by FWRLP in connection with the contribution of the Partnership Interests. Although Contributors and FWRLP believe that no real estate transfer or recording taxes will be due in connection with the transactions contemplated hereby, if it is finally determined that such taxes are due and payable in connection herewith, then Contributors shall (in proportion to their relative percentages under Exhibit Q hereto) either (at FWRLP's election) (i) reimburse to FWRLP one-half (1/2) of such sum paid by FWRLP, or (ii) return/relinquish to FWRLP the number of Units (based on the Unit Price) and cash, as the case may be, equal to one-half (1/2) of the taxes paid by FWRLP divided by the Unit Price. FWRLP and Contributors shall each pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby. In addition to the foregoing, at the Closing, the following adjustments and prorations shall be computed as of the Closing Date, as if the transaction contemplated by this Agreement was a sale of the Property by the Partnership to FWRLP:
Settlement Charges; Prorations and Adjustments. Purchaser shall pay for the title examination, the title insurance premium, notary fees and other such charges incident to Closing. The cost of preparation of the deed for the Property shall be borne by Seller. Any real estate transfer and recording fees and taxes and documentary stamps in connection with this transaction shall be borne equally by Seller and by Purchaser. Purchaser and Seller shall each pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby. In addition to the foregoing, at the Closing, the following adjustments and prorations shall be computed as of the Closing Date and the Purchase Price shall be adjusted to reflect such prorations, as follows:
Settlement Charges; Prorations and Adjustments. Purchaser shall pay for thetitle examination, the title insurance premium, notary fees,recording fees (i.e., per pagecharges) and other such charges incident to Closing. The cost ofpreparation of the deed forthe Property shall be borne by Seller. Any real estate transfertaxes in connection with thistransaction shall be borne equally by Seller and by Purchaser. Purchaser and Seller shall eachpay its own legal fees related to the preparation of thisAgreement and all documents requiredto settle the transaction contemplated hereby. Provided,however, that in the event Purchaseris permitted to and does assign its rights under this Agreementand such assignee makesadditional payments of any kind in connection with suchassignment of this Agreement, Purchaser shall be solely responsible for any additional transfer taxes assessed as a result thereof and Purchaser shall pay such additional taxes at settlement and recording of the deed; Seller shall have no liability for any taxes assessed based on any consideration greater than the Purchase Price, and Purchaser shall indemnify Seller for any such additional taxes. In addition to the foregoing, at the Closing, the following adjustments and prorations shall be computed as of the Closing Date and the Purchase Price shall be adjusted to reflect such prorations, as follows:
Settlement Charges; Prorations and Adjustments. Paragraph 11 of the Agreement is hereby amended by deleting the third sentence and inserting the following in lieu thereof:
Settlement Charges; Prorations and Adjustments. Seller shall pay for the title examination and the title insurance premium for a standard owner's title insurance premium for the Real Property. Buyer shall pay the incremental premium for any ALTA Extended Coverage Owner's Policy and any other endorsements requested by Buyer. The parties acknowledge that no title insurance shall be provided for any personal property. Any recording fees shall be borne equally by Seller and Buyer. Buyer and Seller shall each pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby. All other changes shall be apportioned in the manner customary in the jurisdiction wherein the Property is located. In addition to the foregoing, at Close of Escrow, the following adjustments and prorations shall be computed as of the Closing Date, as follows:
Settlement Charges; Prorations and Adjustments. (a) Purchaser shall pay for the title examination, the title insurance premium, notary fees and other such charges incident to Closing. The reasonable cost of preparation of the deed for the Property shall be borne by Seller. All real estate transfer and recording fees and taxes and documentary stamps in connection with this transaction shall be borne equally by Seller and Purchaser. Purchaser and Seller shall each pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby.
Settlement Charges; Prorations and Adjustments. (a) FWRLP shall pay for the title examination, the title insurance premium, notary fees and other such charges incident to Closing. The cost of preparation of the deed for the Property shall be borne by Contributor. All real estate transfer and recording fees and taxes and documentary stamps in connection with this transaction shall be borne equally by Contributor and FWRLP. FWRLP and Contributor shall each pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby.
Settlement Charges; Prorations and Adjustments. (a) FWRLP shall pay for the title examination, the title insurance premium, notary fees and other such charges incident to the Closings. Although Contributors and FWRLP believe that no real estate transfer or recording fees or taxes will be due in connection with the transactions contemplated hereby, if it is finally determined that such taxes are due and payable in connection herewith, then FWRLP shall pay the full amount of such taxes, but Contributors shall either (i) reimburse to FWRLP one-half (1/2) of such sum paid by FWRLP, or (ii) return/relinquish to FWRLP the number of Units equal to one-half (1/2) of the taxes paid by FWRLP divided by the Unit Price. FWRLP and Contributors shall each pay its own legal fees related to the preparation of this Agreement and all documents required to settle the transaction contemplated hereby.
Settlement Charges; Prorations and Adjustments. (a) At or before Closing, FWRLP shall (i) pay all charges for the title examination, the title insurance premium, notary fees and other such charges incident to Closing, (ii) pay all transfer and recording fees and taxes and documentary stamps associated with the financing of this transaction by FWRLP, (iii) pay all of FWRLP's legal fees related to the preparation of this Agreement and the preparation of all documents required to settle the transaction contemplated hereby, or otherwise incurred by FWRLP in connection herewith, (iv) pay all Development Expenses assumed by FWRLP under Section 2(f) above, to the extent then due and payable, and (v) pay all transfer and recording fees and taxes and documentary stamps associated with the transfer of the Property other than those described in clause (ii) above (the amount described in clause 11(a)(v), above being referred to in this Agreement as the "Closing Costs").
