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Agenda - Council - 06/11/2024
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Agenda - Council - 06/11/2024
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
06/11/2024
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0 a * <br />iii. 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 />I Seller shall pay all outstanding property taxes, including but not <br />limited to, Payable 2023 for the Property. <br />2. Seller shall pay all special assessments levied or pending against <br />the Property as of the Closing Date. <br />3. Seller's own attorney's fees. <br />4. One-half the cost of any closing fees. <br />5. The cost of real estate broker commission fees as prescribed in <br />Section 14. <br />6. State Deed Tax. <br />7. The cost of the Title Commitment and any title endorsements <br />ii. At Closing Buyer must pay the Purchase Price to Seller and the following <br />costs and expenses: <br />I . 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 />d. lPossession. Seller must deliver possession of the Property to Buyer at Closing. <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, other than CBRE, Inc. ("Seller's Broker"). Seller shall pay Seller's <br />Broker as required by their agreement 5% of final gross sale price. Seller and Buyer <br />agree to indemnify each other and to hold each other harmless against all claims, <br />damages, costs or expenses of or for any broker's fees or commissions resulting for their <br />actions or agreements regarding the execution or performance of this Agreement, other <br />than the fees payable to Seller's Broker, and will pay all costs of defending any action or <br />lawsuit brought to recover any such fees or commissions incurred by the other party, <br />including reasonable attorney's fees. <br />15. ASSIGNMENT. Seller agrees not to assign this Agreement to an unrelated third -party <br />prior to the Closing. Buyer may not assign or otherwise transfer this Agreement without <br />Page 8 of 18 <br />
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