Agenda - Council - 10/09/2001 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I I i To the best of Seller's knowledge: there is no action, litigation, investigation, condemnation or proceeding of any kind pending against Seller or the Property which could adversely affect the Property, any portion thereof or title thereto. (g) No notice of heating has been received from any governmental assessing authority, concerning a new public improvement project the costs of which project may be assessed against the Property. (h) All services or material which have been furnished to the Property have been fully paid for or will be fully paid for prior to the date of closing so that no lien for services or materials rendered (commonly known as mechanic's or materialsmen's liens) can be asserted against the Property. All water, sewer and refuse bills for such services which have been furnished to the Property have been fully paid for or will be fully paid for prior to the date of closing so that no lien therefor can be asserted, against the Property. (i) Seller is not in default, nor has there occurred any event which, with the passage of time or notice from a third party, or both, would constitute a default under any underlying financing or covenant affecting the Property or any part thereof. Seller is neither a "foreign person" nor a "foreign corporation" (as those terms are defined in Section 1445 of the Internal Revenue Code of 1986, as amended). (k) There are wells on the Property. (1) Seller has not appealed any real estate tax or assessment payable on the Property and has made no commitments or agreements with any taxing authorities in respect thereto relating to any year subsequent to the year of closing. 10. PRORATIONS Water and other utilities shall be prorated as of the date of closing, real estate taxes and special assessments shall be prorated as of the date of the Closing on the basis of the most recent ascertainable bills therefor. All prorations shall be final. 11. CLOSING COSTS Seller shall pay the costs of the abstract update, and/or title insurance commitment, the deed tax, and for releasing liens and encumbrances and recordation thereof. Purchaser shall pay for the survey, for recording the deed, Property inspection costs and all costs associated with securing a mortgage, if any, including but not limited to the mortgage closing fee, mortgage tax, recording fees and owner's and mortgagee's title policy. All escrow and other charges of the Title Company other than described hereinabove shall be shared equally between Seller and Purchaser. -135-