Prorations Costs Clause Examples

Prorations Costs. 7.1 Escrow Holder, by charge or credit against the cash portion of the Purchase Price, shall prorate the following as of the Close of Escrow:

Prorations Costs. Items of expense (including taxes) and income pertaining to the Realty shall be prorated to the date of closing. Taxes shall be prorated based on the latest available tax statements. If not previously paid, Escrow Holder shall pay to the appropriate taxing authority the semi-annual installment of the current fiscal year's taxes applicable to the six (6) month period during which the closing occurs, whether or not then due. Any credits or additional taxes imposed after closing shall be applied to Buyer's account outside of Escrow. For purposes of this Agreement, closing shall be the date that the Deed and the documents contemplated by Provisions 5.C through E above are accepted by the County Recorder's Office for recording or filing, as applicable. Buyer shall pay the cost of recording and filing the documents described in the immediately preceding sentence. Seller shall pay real estate transfer taxes. Assessments, including but not limited to public improvements, and all monetary liens, whether private or governmental, shall be extinguished, at Seller's expense, by Escrow Holder at closing, except real estate taxes not yet payable, which shall be prorated as aforesaid. All prorations shall be based on a thirty (30) day month.

Prorations Costs. All taxes, rental income, utility charges, ground rents (if applicable) and other items which are customarily prorated in transactions similar to the transaction contemplated hereby will be prorated as of the Closing Date. After the Closing Date, promptly upon receipt of any rental payments under the Tower Leases for periods after the Closing Date, Seller shall pay over to Purchaser all such cash received by Seller or endorse and deliver to Purchaser all such checks or other instruments so received by Seller. To the extent any of the amounts prorated at Closing are based on estimates, or in the event of any inaccuracy in such amounts, Purchaser shall provide to Seller evidence of any discrepancy between the prorated amounts and the actual amounts shown on the closing statement within sixty (60) days of the Closing Date, together with the reconciliation reflecting such actual amounts. To the extent such reconciliation indicates that either party is due additional prorated amounts, such amounts shall be paid by the party from whom such amounts are due within ninety (90) days of the Closing Date. Purchaser and Seller shall each bear one-half the cost of any recordation deed, mortgage or transfer taxes arising with respect to the sale and/or recordation of any of the Closing documents, provided that Seller shall not be responsible for any such taxes or fees in excess of $2,000.00. Purchaser shall bear the expense of any surveys or other reports or investigations conducted by Purchaser as well as any mortgage tax.

Prorations Costs. 24 Section 6.1 Prorations. ........................................... 24 Section 6.2 Post-Closing Corrections............................... 26 Section 6.3 Utilities.............................................. 26 Section 6.4

Prorations Costs. All property taxes, assessments and other real-property charges shall be prorated as of the Closing Date. At or before the Closing, Seller shall pay: (i) for the cost of a standard- coverage owner’s policy of title insurance in the amount of the Purchase Price; (ii) the cost of any title policy endorsements required to cure any Property Issue (as defined in Subsection 7.6 of this Agreement); and (iii) one half of the fees and costs of Escrow. At or before the Closing, Buyer shall pay: (a) the cost differential between the cost of the standard-coverage owner’s policy of title insurance and the cost of an ALTA extended-coverage owner’s policy of title insurance in the amount of the Purchase Price; (b) one half of the fees and costs of Escrow; (c) the cost of any title policy endorsements requested by Buyer or its lender; and (d) all fees and costs associated with the purchase financing of the Property, including, without limitation, the cost of the loan policy of title insurance. Each Party shall pay its own legal and accounting costs. All other costs and expenses shall be allocated or prorated as of the Closing Date in the manner customary in Pulaski County, Arkansas, for transactions of this type.

Prorations Costs a. Seller shall pay all real estate taxes due and payable in years prior to the closing and those payable in the year of closing shall be prorated based on the number of days in the calendar year of closing prior to the closing and those days after the closing. b. All levied, deferred, and pending assessments shall be paid by Seller. c. Buyer will reduce its payment at closing to Seller by the cost of preparation of a title commitment respecting the Property (but not the cost of title insurance), as well as $3.40 for each $1,000 of the Purchase Price and Buyer will bear all other costs of deed taxes and recording fees for all documents necessary to vest title in the Property in Buyer. Buyer and Seller will each pay one-half of closing fees charged by a title company.

Prorations Costs. (a) Seller will pay all taxes and assessments with respect to the Property, which have been assessed and became a lien upon the Property and are due and payable prior to the Closing Date. Current taxes and assessments for the period in which the Closing occurs will be prorated and adjusted in accordance with a due date basis based upon the most recent tax bills for the Property. All taxes and assessments which become a lien upon the Property and are due and payable after the Closing Date will be paid by Purchaser. If the Property is assessed as a part of a tract that includes other land, the taxes and assessments will be allocated to the Property and the other land based upon the respective acreage of the Property and the other land (and any improvements on the Property and the other land). (b) Purchaser will arrange with all utility providers, servicers and companies serving the Property to have accounts started in the name of Purchaser or its property manager beginning as of the Closing Date. Seller shall not assign to nor shall Purchaser be entitled to receive a credit for any deposits Seller has made with any utility providers, servicers or companies. Purchaser and Seller will use their best good faith efforts to have the utility providers, servicers and companies make final utility meter readings on the Business Day prior to the Closing Date. If readings cannot be made on such day, utility charges will be prorated between the parties as of 11:59 p.m. Eastern Standard Time on such Business Day preceding the Closing Date, based upon estimated charges from the most recent statements received for the most recent billing period (with the assumption that utility charges were uniformly incurred during the billing period in which the Closing occurs), and appropriate credits given, and post closing adjustments will be made when the actual xxxxxxxx are received or an escrow will be established by Seller to provide for payment of utility and other maintenance payables. All other expenses to operate the Property shall be prorated as of the Closing Date. (c) All estimated prorations under this Section 12 shall be adjusted, if necessary, and completed after the Closing as soon as final information becomes available. Seller and Purchaser agree to cooperate and use their commercially reasonable efforts to complete such prorations no later than thirty (30) days after the Closing Date. The provisions of this Section 12(c) will survive the Closing. (d) Purchaser will pa...

Prorations Costs. The following items shall be prorated as of the Closing between Seller and Buyer as set forth herein: 8.1 The Buyer shall be charged with (a) the cost of real estate conveyance tax, if any, and other transfer taxes, if any, imposed by state or local authorities, (b) the cost of the continuation of the Abstract of Title, (c) document preparation; and (d) recording fees. 8.2 Seller and Xxxxx shall each be responsible for the payment of the fees and expenses of their respective counsel in connection with the transactions contemplated by this Agreement, except that the costs of Seller's document preparation shall be paid by Xxxxx as a component of the purchase price.

Prorations Costs