Common use of Closing Costs, Prepaid Expenses and Impounds Clause in Contracts

Closing Costs, Prepaid Expenses and Impounds. Buyer agrees to deposit into escrow not less than three (3) business days prior to the Close Date, in immediately available funds, and to pay at the Close of Escrow, the actual costs of the following: (i) all escrow fees and related charges of Escrow Holder, including, without limitation, Escrow Holder’s document preparation fees, messenger expenses, express mail charges, bank wire charges and any other costs incurred by Escrow Holder necessary to complete this transaction; (ii) a prorated portion of all real property taxes, special taxes and assessments for the applicable fiscal year; (iii) a prorated portion of any homeowner association assessments applicable to the Condominium Unit; (iv) any homeowner association transfer fees; (v) all prepaid expenses, including, without limitation, extended coverage fire and hazard insurance, if any; (f) all fees for recording the Grant Deed conveying (and leasing) the Property to Buyer; (vi) all charges set forth in Seller’s Authorized Lender instructions, including, without limitation, such Authorized Lender’s joint protection Title Policy and all costs of any extended coverage, prepaid interest, credit report fee, tax service fee, loan origination fee, processing fee, funding fee, initial mortgage insurance premium, if required, initial impounds, if required, all Los Angeles County recording fees for Seller’s Authorized Lender’s deed of trust, and notary fees; (vii) any documentary transfer tax levied by Los Angeles County upon the transfer of title to the Property to Buyer; and (viii) all other expenses, impounds and closing costs not expressly payable by Seller under the terms of this Agreement. Seller shall also pay at the Close of Escrow prorated homeowner association fees and property tax assessed against the Property.

Closing Costs, Prepaid Expenses and Impounds. Buyer agrees to deposit into escrow not less than three (3) business days prior to the Close Date, in immediately available funds, and to pay at the Close of Escrow, the actual costs of the following: (i) all escrow fees and related charges of Escrow Holder, including, without limitation, Escrow Holder’s document preparation fees, messenger expenses, express mail charges, bank wire charges and any other costs incurred by Escrow Holder necessary to complete this transaction; (ii) a prorated portion of all real property taxes, special taxes and assessments for the applicable fiscal year; (iii) a prorated portion of any homeowner association assessments applicable to the Condominium Unit; (iv) any homeowner association transfer fees; (v) all prepaid expenses, including, without limitation, extended coverage fire and hazard insurance, if any; (f) all fees for recording the Grant Deed conveying (and leasing) the Property to Buyer; (vi) all charges set forth in Seller’s Authorized Lender instructions, including, without limitation, such Authorized Lender’s joint protection Title Policy and all costs of any extended coverage, prepaid interest, credit report fee, tax service fee, loan origination fee, processing fee, funding fee, initial mortgage insurance premium, if required, initial impounds, if required, all Los Angeles County recording fees for Seller’s Authorized LenderXxxxxx’s deed of trust, and notary fees; (vii) any documentary transfer tax levied by Los Angeles County upon the transfer of title to the Property to Buyer; and (viii) all other expenses, impounds and closing costs not expressly payable by Seller under the terms of this Agreement. Seller shall also pay at the Close of Escrow prorated homeowner association fees and property tax assessed against the Property.