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Agenda - Economic Development Authority - 02/05/2015
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Agenda - Economic Development Authority - 02/05/2015
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3/18/2025 12:57:56 PM
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3/9/2015 9:00:11 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
02/05/2015
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without limitation, the unpaid balance of special assessments and/or <br />installments of special assessments certified for payment to the real <br />estate taxes, except all special assessments that become levied or <br />pending after the Closing Date. <br />5. The cost of the ALTA survey_ <br />6. The brokerage fee of Broker pursuant to Section 7. <br />Attorneys' fees and costs of Seller's attorneys. <br />B. Buyer shall pay: <br />1. The documentary fee necessary to record the Deed. <br />2. The premium for the Owners Title Insurance Policy, any Lender's <br />policy of title insurance ao cl the <br />3. One -half (1/2) of the closing fee and all of the escrow fee charged by <br />Title Company. <br />4. All special assessments levied or pending after the Closing Date. <br />5. Attorneys' fees and costs of Buyer's attorneys. <br />6. Balance of the purchase price. <br />C. The terms of this Section 26 shall survive the closing of the transaction <br />contemplated herein. <br />27. PRORATIONS. The following prorations shall be made as of the Closing Date: <br />A. Real estate taxes (excluding any outstanding special assessments and/or <br />installments of special assessments certified to the real estate taxes for payment <br />Seller is obligated to pay pursuant to Section 26 hereof) allocable to the Premises <br />that are due and payable in the year of closing shall be prorated between Seller <br />and Buyer to the Closing Date. Seller shall pay all such real estate taxes due and <br />payable in years prior to the year of closing. Buyer shall assume responsibility <br />for the payment of all such taxes due and payable in years subsequent to the year <br />of closing. If, as of the Closing Date, the Premises is not assessed for purposes <br />of property taxation separately from all other real property, then the real estate <br />taxes for the total tax parcel shall be paid in full at closing, and the amount of <br />taxes allocable to the Premises shall be determined based upon the ratio that the <br />square footage of the Premises bears to the square footage of all the real property <br />within the total tax parcel. <br />Page 10 of 16 <br />
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