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Agenda - Council - 09/08/2026
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Agenda - Council - 09/08/2026
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9/8/2026 12:31:23 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
09/08/2026
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Buyer, provided, that the same are commercially reasonable and do <br />not require Seller to incur additional obligations or costs. <br />b. Buyer will execute and deliver to Seller the following documents at the <br />Closing (collectively, the "Buyer's Closing Documents"): <br />i. The Purchase Price in accordance with Section 2 hereof; <br />ii. Buyer's Certificate; <br />iii. General Assignment; <br />iv. Settlement Statement; and <br />v. Any other documentation reasonably required by the Title <br />Company to close the transaction contemplated hereunder and to <br />cause the owner's title policy to be issued and delivered to the <br />Buyer. <br />The Seller's Closing Documents and the Buyers' Closing Documents are sometimes <br />collectively referred to as the "Closing Documents". <br />14. Closing Costs/Fees. At the Closing, the parties will bear the following costs: <br />a. Seller will pay (i) the cost of the Title Commitment; (ii) the deed tax in <br />connection with the Deed and the transfer of the Property; (iii) the recording fees due upon the <br />recording of any documents (other than the Deed) necessary to place record title in the condition <br />required by this Agreement; (iv) one-half (1/2) of any closing escrow fees of the Title Company; <br />and (v) all other costs and expenses that are allocated to Seller under the other provisions of this <br />Agreement. <br />b. Buyer will pay (i) the cost of recording the Deed and the title insurance <br />premiums, including costs for endorsements or additional coverages thereto; (ii) all costs and <br />expenses associated with the Buyer inspections of the Property; (iii) one-half (1/2) of any closing <br />escrow fees of the Title Company; and (iv) all other costs and expenses that are allocated to <br />Buyer under the other provisions of this Agreement. <br />c. Buyer and Seller shall each be responsible for their own legal, accounting <br />and consulting expenses in connection with this Agreement and this transaction. <br />d. Payment of any closing costs not specifically listed herein shall be the <br />responsibility of the party as stated elsewhere in this Agreement, and if not stated elsewhere in <br />this Agreement, the costs shall be the responsibility of the party ordering or contracting for such <br />item. <br />11 <br />
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