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Agenda - Economic Development Authority - 10/08/2020
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Agenda - Economic Development Authority - 10/08/2020
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3/14/2025 3:42:35 PM
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10/2/2020 9:55:42 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
10/08/2020
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i. Wire Transfer (or deliver a certified check in) an amount equal to the <br />amount of the Purchase Price adjusted for to reflect Buyer’s prior payment <br />of the Earnest Money and to reflect amounts Buyer must pay or will <br />receive pursuant to Section 14(c), to Escrow Agent for disbursement to <br />Seller and others pursuant to this Agreement and the Settlement <br />Statement; <br />ii. File or cause Escrow Agent to file an Electronic Certificate of Real Estate <br />Value, if required and necessary. <br />c. Closing Costs. <br />i. At Closing, the following Seller closing costs and expenses must be paid <br />from the Purchaser Price or, if the Purchase Price is not sufficient, paid by <br />Seller: <br />1. Seller shall pay all outstanding property taxes, including but not <br />limited to, Payable 2020-21 for the Property. <br />2. Seller’s own attorney’s fees. <br />3. One-half the cost of any closing fees. <br />4. The cost of real estate broker commission fees as prescribed in <br />Section 14. <br />5. State Deed Tax <br /> <br />ii. At Closing Buyer must pay the Purchase Price to Seller and the following <br />costs and expenses: <br />1. Buyer’s portion of prorated property taxes. <br />2. Buyer’s own attorney’s fees. <br />3. One-half the cost of any closing fees. <br />4. Documentary and recording fees for the deed(s). <br />5. The cost of the owner’s title insurance policy, if Buyer elects to <br />purchase an Owner’s title insurance policy. <br />6. Buyer shall pay all special assessments levied or pending against <br />the Property as of the Closing Date. <br /> <br />d. Possession. Seller must deliver possession of the Property to Buyer at Closing. <br /> <br />14. REAL ESTATE BROKERS. Seller and Buyer represent and warrant to each other that <br />they have dealt with no brokers, real estate agents, finders or the like in connection with <br />this transaction Seller and Buyer agree to indemnify each other and to hold each other <br />harmless against all claims, damages, costs or expenses of or for any broker’s fees or <br />commissions resulting for their actions or agreements regarding the execution or <br />performance of this Agreement, and will pay all costs of defending any action or lawsuit <br />brought to recover any such fees or commissions incurred by the other party, including <br />reasonable attorney’s fees. <br />Page 8 of 13 <br /> <br />
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