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of all encumbrances, other than the Permitted Encumbrances (as defined <br />below). <br />(b) BUYER's Closing .Documents. On the Closing Date, BUYER will execute <br />and/or deliver to SELLER the following (collectively, "BUYER's Closing <br />Documents"): <br />(1) Purchase Price. The Purchase Price, by wire transfer of U.S. Federal <br />Funds, or by certified check to be delivered to SELLER on or before 5:00 <br />p.m. on the Closing Date.. <br />(2) Title Documents. Such affidavits of .Purchaser, Certificates of Value or <br />other documents as may be reasonably required in order to record the <br />SELLER's Closing Documents and issue a Title Insurance Policy. <br />(3) Road Easement. An executed road easement across a part of Lot 4, Block <br />1, Rabbit Run, Anoka County, Minnesota in substantially the form of <br />attached Exhibit B. <br />5. Prorations. SELLER and .BUYER agree to the following prorations and <br />allocation of costs regarding this Agreement: <br />(a) Title Insurance andClosing Fee. SELLER will pay all costs of the Title <br />Evidence, and the fees charged for any escrow required regarding BUYER's <br />Objections. BUYER will pay the ALTA Form B 2006 Owner's Title Policy and <br />additional premiums required for the issuance of any mortgagee's Title Policy if <br />required by BUYER. SELLER and BUYER will each pay one-half of any <br />reasonable and customary closing fee or charge imposed by any closing agent. <br />(b) Deed Tax. SELLER shall pay all state deed tax, if any, regarding the Warranty <br />Deed to be delivered by SELLER under this Agreement. <br />(c) Real Estate Taxes and Special Assessments. SELLER shall pay all levied special <br />assessments, if any, against the Property as of the Closing Date, including special <br />assessments certified for payment with the real estate taxes payable in the year of <br />closing. BUYER shall assume any pending special assessments and any deferred <br />fees against the Property. SELLER shall pay all real estate taxes due and payable in <br />the years prior to closing. Real estate. taxes due and payable in the year of closing <br />shall be prorated on the basis of a 366 day calendar year. BUYER shall pay all real <br />estate taxes due and payable in the years following closing. <br />(d) Recording_ Costs. SELLER will pay the cost of recording all documents <br />necessary to place record title in the condition warranted and requested by <br />SELLER in this Agreement. BUYER will pay the cost of recording all other <br />documents. <br />(e) Attorney s Fees. Each of the parties will pay its own attorneys fees, except that a <br />party defaulting under this Agreement or any closing document will pay the <br />3 <br />-26- <br />