Agenda - Council - 09/26/2023 - Laserfiche WebLink

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amount paid into escrow; (e) if excess funds remain in escrow after payment of all of the costs of completing. Seller's Site Obligations, Escrow Agent shall remit such excess to Seller; (f) Seller's Site obligations shall be deemed completed on the date that both of the following conditions are satisfied: (1) Buyer receives a certificate from Seller's civil engineer certifying to Ewer that Seller's Site obligations have been completed and performed in accordance with the approved plans, specifications and permits therefor; and (ii) Buyer inspects Seller's Site obligations to determine if they were performed in accordance with the approved plans, specifications and permits therefor. If Buyer fails to inspect Sellers Site obligations within 10 lousiness rdays following its receipt of the above -described certificate, then. Seller's Site obligations shall be deemed complete. ARTICLE t APPORTIONMENTS AND ADJUSTMENTS 9.01 Adjustments at C1osrnp. On the closing Date, Buyer and Seller shall apportion, adjust, ,prorate and pay the following items in the manner hereinafter set forth: (a) Real Estate Taxes and Assessments. Seller shall pay all delinquent real estate takes, together with penalties and interest thereon; all assessments which are a lien against the Property as of the Closing Date (both current and reassessed, whether due or to become due and not yet payable);. all real estate taxes for years prior to the closing Date; real estate taxes for the year of closing, prorated through the closing Cate; and all agricultural use roll back taxes or tax recoupments, if any, for gears through the year of Closing. The proration of undetermined taxes shall be based upon a 65-day year and on the last available tax rate, gyring due regard to applicable exemptions, recently voted millage, change in tax rate or valuation (as a result of this transaction or otherwise), etc., whether or not the same have been certified. It is the intention of the ,parties in making this tax proration to give Buyer a credit as dose in amount as possible to the amount which Buyer will be required to remit to the county Treasurer (or other applicable government agency or bode for the period of time preceding the Closing Date hereof. Seller and Buyer agree that the amount so computed shall be subject to later adjustment should the amount credited at closing be incorrect rased upon actual tax bills received by Buyer after Closing. Seller warrants and represents that all assessments now a lien are shown on the County Treasurer's (or other applicable government agency or body) records and that to the best of Sellers knowledge, no site or area improvement has been installed by any public authority, the cost of which is to be assessed against the Property in the future. Seller further warrants and represents that neither Seller nor any of its agents, employees or representatives have received notice, oral or written, or have knowledge of any proposed improvement, any part of the cost of which would or might be assessed against the Property; (b) Seller's Expenses. Seller shall, at the closing (unless previously paid), pay by credit against the Purchase Price the following: i The cost of preparing the Deed; 10 B: S: