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09/23/14
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09/23/14
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7/18/2025 11:33:57 AM
Creation date
9/25/2014 8:34:32 AM
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Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority
Document Date
09/23/2014
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iii) FIRPTA Affidavit. A non - foreign affidavit, properly executed and in <br />recordable form, containing such information as is required by IRC <br />Section 1445(b) (2) and its regulations. <br />iv) Date - Down Certificate. A certificate confirming the accuracy, as of the <br />Closing Date, of the representations and warranties set forth in Section 7. <br />v} Other Documents. All other documents reasonably required to transfer <br />the Property to Buyer in accordance with the terms of this Agreement. <br />b. Buyer's Closing Documents. On the Closing Date, Buyer will execute and /or <br />deliver to Seller the following (collectively, "Buyer's Closing Documents "): <br />i) Purchase Price. The balance of the Purchase Price by cashier's check or <br />wire transfer is to be delivered to Seller on the Closing Date. <br />ii) Title Documents. Such affidavits of Purchaser, Certificates of Value or <br />other documents as may be reasonably required by Title in order to record <br />the Seller's Closing Documents and issue the Title Insurance Policy <br />required by this Agreement. <br />5. Prorations. Seller and Buyer agree to the following prorations and allocation of costs <br />regarding this Agreement: <br />a. Title Insurance and Closing Fee. Seller will pay all costs of providing the Title <br />Commitment. Buyer will pay the premium required for the issuance of the <br />Owner's Title Insurance Policy. Seller will pay the cost of providing the ALTA <br />Survey identified in Section 6 of this Agreement. Seller and Buyer will each pay <br />one -half of any reasonable and customary closing fee or charge imposed by the <br />Title Company. <br />b. Real Estate Taxes. On or before the Closing, Seller shall pay all real estate <br />taxes, and any penalties and interest thereon due and payable with respect to the <br />Real Property in 2013 and all years prior to the year of Closing, including all so- <br />called "Green Acre" taxes attributable to the year 2013 or years prior to the year <br />of Closing. The real estate taxes due and payable in the year of closing shall be <br />pro rated between Seller and Buyer, on a per diem basis using a calendar year, to <br />the Closing Date. Buyer shall pay all real estate taxes due and payable in years <br />following the year of Closing. <br />c. Special Assessments. Seller shall pay all special assessments levied, pending or <br />otherwise of record against the Real Property as of the Closing Date. Installments <br />of special assessments, if any, due and payable in the year 2013 and prior years <br />shall be paid by Seller. <br />5 <br />
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