Common use of Closing Costs and Prorations Clause in Contracts

Closing Costs and Prorations. Seller shall deliver an updated rent roll to Escrow Agent before the scheduled Closing Date and any other information reasonably requested by Escrow Agent before the Closing Date to allow Escrow Agent to prepare a settlement statement for Closing. Seller and Buyer shall each pay their own legal fees and the fees of their own consultants. Seller shall pay the premium for the owner's standard coverage Title Policy. Buyer shall pay any excess or additional premium attributable to any extended coverage policy of title insurance and any endorsements requested by Buyer and the cost of any survey required in connection with the same. Seller and Buyer shall each pay one-half of the escrow fees. Seller shall pay the real estate excise tax related to the sale of the Real Property in the amount required by applicable statute or code. Real and personal property taxes and assessments payable in the year of closing, collected rents on any existing tenancies, interest, utilities, and other operating expenses shall be pro-rated as of Closing. If tenants pay any of the foregoing expenses directly, then Escrow Agent shall only pro rate those expenses paid by Seller. Buyer shall pay all costs of financing including the premium for the lender's title policy. If the Property was taxed under a deferred classification prior to Closing, then Seller shall pay all taxes, interest, penalties, deferred taxes or similar items which result from removal of the Property from the deferred classification. At Closing, all refundable deposits on tenancies, if any, shall be credited to Buyer or delivered to Buyer for deposit in a trust account if required by state or local law. Buyer shall pay any sales or use tax applicable to the transfer of personal property included in the sale. All other costs shall be allocated between Seller and Buyer in accordance with the customary practice in King County, Washington for commercial real estate transactions.

Closing Costs and Prorations. Seller shall deliver an updated rent roll to Escrow Closing Agent not later than two (2) days before the scheduled Closing Date date in the form required by Section 5(a) and any other information reasonably requested by Escrow Closing Agent before the Closing Date to allow Escrow Closing Agent to prepare a settlement statement for Closing. Seller and Buyer shall each pay their own legal fees and certifies that the fees information contained in the rent roll is correct as of their own consultantsthe date submitted. Seller shall pay the premium for the owner's standard coverage Title Policytitle policy. Buyer shall pay any the excess or additional premium attributable to any extended coverage policy of title insurance and any or endorsements requested by Buyer Xxxxx, and the cost of any survey required in connection with the same. Seller and Buyer shall each pay one-half of the escrow fees. Seller shall pay the Any real estate excise tax related to taxes shall be paid by the sale of party who bears primary responsibility for payment under the Real Property in the amount required by applicable statute or code. Real and personal property taxes and assessments payable in the year of closing, ; collected rents on any existing tenancies, ; interest, ; utilities, ; and other operating expenses shall be pro-rated as of Closing. If tenants pay any of the foregoing expenses directly, then Escrow Closing Agent shall only pro rate those expenses paid by Seller. Buyer shall pay to Seller at Closing an additional sum equal to any utility deposits or mortgage reserves for assumed financing for which Xxxxx receives the benefit after Closing. Buyer shall pay all costs of financing including the premium for the lender's title policy. If the Property was taxed under a deferred classification prior to Closing, then Seller shall pay all taxes, interest, penalties, deferred taxes or similar items which result from removal of the Property from the deferred classification. At Closing, all refundable deposits on tenancies, if any, tenancies shall be credited to Buyer or delivered to Buyer for deposit in a trust account if required by state or local law. Buyer shall pay any sales or use tax applicable to the transfer of personal property included in the sale. All other costs shall be allocated between Seller and Buyer in accordance with the customary practice in King County, Washington for commercial real estate transactions.

Closing Costs and Prorations. Seller shall deliver an updated rent roll to Escrow Agent before the scheduled Closing Date and any other information reasonably requested by Escrow Agent before the Closing Date to allow Escrow Agent to prepare a settlement statement for Closing. Seller and Buyer shall each pay their own legal fees and the fees of their own consultants. Seller shall pay the premium for the owner's standard coverage Title Policy. Buyer shall pay any excess or additional premium attributable to any extended coverage policy of title insurance (a) all county and any endorsements requested by Buyer state transfer and the cost of any survey required conveyance taxes assessed in connection with the same. Seller Closing and Buyer shall each pay one-half recording the Deed, and all recording costs for recordation of the escrow feesDeed, the Crane Easement, and any easements, covenants, and restrictions contemplated under this Agreement or necessary to remove, correct, or remedy, the Title Objections which Seller is obligated to resolve, (b) any endorsements to the Title Policy, if any, necessary to cure Title Objections, (c) the cost of preparation and recording of the Plat, and (d) one half (½) of the Title Company’s closing fee in connection with this transaction. Purchaser shall pay (i) the cost of the Title Commitment and the Title Policy, (ii) the cost of the Survey, and (iii) one half (½) of the Title Company’s closing fee in connection with this transaction. Seller shall be responsible for and pay all past due taxes at or prior to Closing. Taxes and installments of special assessments for the real estate excise tax related to the sale year of Closing shall be prorated as of the Real Property in the amount required by applicable statute or code. Real date of Closing on a calendar year basis and personal property shall be based on taxes coming due and assessments payable in the calendar year of closing, collected rents on any existing tenancies, interest, utilities, and other operating expenses shall be pro-rated as of Closing. If tenants pay the actual assessed value or tax rate for any taxes or assessments are not known on the date of Closing, the foregoing expenses directly, then Escrow Agent taxes shall only pro rate those expenses paid by Seller. Buyer shall pay all costs of financing including be prorated based upon the premium most recently published tax rates and assessments for the lender's title policyProperty. If Should Seller appeal or begin the appeal process for any taxes or fees for any time period prior to the Closing, Seller shall be entitled to such funds should Seller’s appeal be successful. Seller shall be solely and exclusively responsible for payment in full of all special assessments against the Property was taxed under a deferred classification due prior to Closing, then Seller if any. Other regular and customary costs and expenses related to the Property shall also be prorated based on the date of Closing, including, without limitation, water, sewer, utility charges and other payables. To the extent appropriate for the adjustment of the foregoing amounts to achieve the requirements of this Section 9, the terms of this Section 9 shall survive Closing. Each Party shall pay all taxes, interest, penalties, deferred taxes or similar items which result from removal of the Property from the deferred classification. At Closing, all refundable deposits on tenancies, if any, shall be credited to Buyer or delivered to Buyer for deposit its own attorneys’ fees in a trust account if required by state or local law. Buyer shall pay any sales or use tax applicable to the transfer of personal property included in the sale. All other costs shall be allocated between Seller and Buyer in accordance connection with the customary practice in King County, Washington for commercial real estate transactionsthis transaction.

Closing Costs and Prorations. Seller shall deliver an updated rent roll to Escrow Closing Agent not later than two (2) days before the scheduled Closing Date closing date in the form required by Section 5(a) and any other information reasonably requested by Escrow Closing Agent before the Closing Date to allow Escrow Closing Agent to prepare a settlement statement for Closingclosing. Seller and Buyer shall each pay their own legal fees and certifies that the fees information contained in the rent roll is correct as of their own consultantsthe date submitted. Seller shall pay the premium for the owner's standard coverage Title Policytitle policy. Buyer shall pay any the excess or additional premium attributable to any extended coverage policy of title insurance and any or endorsements requested by Buyer Buyer, and the cost of any survey required in connection with the same. Seller and Buyer shall each pay one-half of the escrow fees. Seller shall pay the real Real estate excise tax related to taxes shall be paid by the sale of party who bears primary responsibility for payment under the Real Property in the amount required by applicable statute or code, which is typically Seller. Real and personal property taxes and assessments payable in the year of closing, ; collected rents on any existing tenancies, ; interest, ; utilities, ; and other operating expenses shall be pro-rated as of Closingclosing. If tenants pay any of the foregoing expenses directly, then Escrow Closing Agent shall only pro rate those expenses paid by Seller. Buyer shall pay to Seller at closing an additional sum equal to any utility deposits or mortgage reserves for assumed financing for which Buyer receives the benefit after closing. Buyer shall pay all costs of financing including the premium for the lender's title policy. The real estate commission is due on closing or upon Seller’s default under this Agreement, whichever occurs first, and neither the amount nor due date thereof can be changed without Listing Agent’s written consent. If the Property was taxed under a deferred classification prior to Closingclosing, then Seller shall pay all taxes, interest, penalties, deferred taxes or similar items which result from removal of the Property from the deferred classification. At Closingclosing, all refundable deposits on tenancies, if any, tenancies shall be credited to Buyer or delivered to Buyer for deposit in a trust account if required by state or local law. Buyer shall pay any all sales or use tax applicable to the transfer of personal property included in the sale. All other costs shall be allocated between Seller and Buyer in accordance with the customary practice in King County, Washington for commercial real estate transactions.sale.‌‌

Closing Costs and Prorations. Seller shall deliver an updated rent roll to Escrow Agent before the scheduled Closing Date and any other information reasonably requested by Escrow Agent before the Closing Date to allow Escrow Agent to prepare a settlement statement for Closing. Seller and Buyer shall each pay their own legal fees and the fees of their own consultants. Seller shall pay the premium for the owner's standard coverage Title Policy. Buyer shall pay any excess or additional premium attributable to any extended coverage policy of title insurance and any endorsements requested by Buyer and the cost of any survey required (i) all transfer and/or conveyance taxes assessed in connection with the same. Seller and Buyer shall each pay one-Closing, (ii) the base premium for the Title Insurance Policy (excluding costs related to removal of the standard exceptions which require a Survey for their removal), (iii) one half of the escrow feesTitle Company's closing fee in connection with this transaction and (iv) all costs related to Seller’s professionals and consultants. Seller Purchaser shall pay the real estate excise tax related to the sale (A) all recording costs for recordation of the Real Property in Deed, (B) all costs and expenses associated with Purchaser’s inspections conducted pursuant to this Agreement and Purchaser’s professionals and consultants, (C) any endorsements issued with the amount required Title Insurance Policy (except for those used by applicable statute or code. Real and personal property taxes and assessments payable in Seller to cure any title objections), (D) the year of closing, collected rents on any existing tenancies, interest, utilities, and other operating expenses shall be pro-rated as of Closing. If tenants pay any cost of the foregoing expenses directly, then Escrow Agent shall only pro rate those expenses paid by Seller. Buyer shall pay all costs of financing including the premium for the lender's title policy. If the Property was taxed under a deferred classification prior to Closing, then Seller shall pay all taxes, interest, penalties, deferred taxes or similar items which result from removal of the Property from the deferred classification. At Closing, all refundable deposits on tenanciesSurvey, if any, and (E) one half of the Title Company’s closing fee connection with this transaction. Seller shall be credited responsible for and will pay at or prior to Buyer or delivered Closing all ad valorem property taxes and installments of special assessments that are due and payable prior to Buyer Closing. Current ad valorem property taxes and installments of special assessments shall be prorated as of the date of Closing on a due date basis. All utilities should be apportioned based on final meter readings and final invoices as of the date of Closing. Seller shall request each utility serving the Property to render a final bill as of Closing so that utility charges may be separately billed for deposit the periods before and after Closing. In the event that Xxxxxx is unable to obtain final meter readings for water as of the Closing Date, then Xxxxxx agrees to place funds in escrow with the Title Company pursuant to a trust account if required by state or local law. Buyer shall pay any sales or use tax applicable customary water escrow agreement (the amount of such escrow to be satisfactory to the parties based upon the historical water bills). Utility accounts, are to be closed or transfer to Purchaser as of personal property included in the saledate of Closing, with Seller responsible for all charges prior to the date of Closing. All other Other regular and customary costs and expenses related to the Property shall also be allocated between Seller and Buyer in accordance with prorated based on the customary practice in King Countydate of Closing. To the extent appropriate for the adjustment of the foregoing amounts to achieve the requirements of this Section, Washington for commercial real estate transactionsthe terms of this Section shall survive Closing.

Closing Costs and Prorations. Seller shall deliver an updated rent roll to Escrow Closing Agent not later than two (2) days before the scheduled Closing Date in the form required by Section 24(a) and any other information reasonably requested by Escrow Closing Agent before the Closing Date to allow Escrow Closing Agent to prepare a settlement statement for Closing. Seller and Buyer shall each pay their own legal fees and certifies that the fees information contained in the rent roll is correct as of their own consultantsthe date submitted. Seller shall pay the premium for the owner's standard coverage Title Policytitle policy. Buyer shall pay any the excess or additional premium attributable to any extended coverage policy of title insurance and any or endorsements requested by Buyer Xxxxx, and the cost of any survey required in connection with the same. Seller and Buyer shall each pay one-half of the escrow fees. Seller shall pay the Any real estate excise tax related to taxes shall be paid by the sale of party who bears primary responsibility for payment under the Real Property in the amount required by applicable statute or code. Real and personal property taxes and assessments payable in the year of closing, ; collected rents on any existing tenancies, ; expenses already incurred by Seller that relate to services to be provided to the Property after the Closing Date; interest, ; utilities, ; and other operating expenses shall be pro-rated as of Closing. Seller will be charged and credited for the amounts of all of the pro-rated items relating to the period up to and including 11:59 pm Pacific Time on the day preceding the Closing Date, and Buyer will be charged and credited for all of the pro-rated items relating to the period on and after the Closing Date. If tenants pay any of the foregoing expenses directly, then Escrow Closing Agent shall only pro rate those expenses paid by Seller. Buyer shall pay to Seller at Closing an additional sum equal to any utility deposits or mortgage reserves for assumed financing for which Xxxxx receives the benefit after Closing. Buyer shall pay all costs of financing including the premium for the lender's title policy. If the Property was taxed under a deferred classification prior to Closing, then Seller shall pay all taxes, interest, penalties, deferred taxes or similar items which result from removal of the Property from the deferred classification. At Closing, all refundable deposits on tenancies, if any, tenancies shall be credited to Buyer or delivered to Buyer for deposit in a trust account if required by state or local law. Buyer shall pay any sales or use tax applicable to the transfer of personal property included in the sale. All other costs shall be allocated between Seller and Buyer in accordance with the customary practice in King County, Washington for commercial real estate transactions.

Closing Costs and Prorations. Seller shall deliver an updated rent roll to Escrow Agent before the scheduled Closing Date and any other information reasonably requested by Escrow Agent before the Closing Date to allow Escrow Agent to prepare a settlement statement for Closing. Seller and Buyer shall each pay their own legal fees and the fees of their own consultants. Seller shall pay the premium be responsible for the owner's standard coverage following costs relating to each Closing: (i) all transfer taxes, documentary stamp taxes or other conveyance taxes of any kind assessed in connection with the Closing, (ii) one half ( 1/2) of Title PolicyCompany’s closing fee in connection with the Closing, and (iii) the Seller will also pay such other costs and expenses that are customarily paid by Seller in the market in which the Parcel is located. Buyer Purchaser shall pay any excess or additional premium attributable be responsible for the following costs relating to any extended coverage policy each Closing: (i) all recording costs for recordation of title insurance and any endorsements requested by Buyer and the deed, (ii) the cost of any survey endorsements required to be issued by Purchaser with the Title Policy; (iii) one half ( 1/2) of Title Company’s closing fee in connection with the sameClosing; (iv) the title insurance premium; and (v) all costs and expenses associated with the Purchaser’s inspections conducted pursuant to this Agreement. Seller and Buyer shall each pay one-half The amount of the escrow feesDeposit and all interest shall be credited against the Purchase Price. Purchaser shall allocate the Deposit among the Parcels in its discretion, which allocation shall be included in the Allocation Schedule described in Section 2 above. Seller shall be responsible for and pay the real estate excise tax related all past due taxes at or prior to the sale of the Real Property in the amount required by applicable statute or code. Real Closing and personal property for all future taxes and assessments payable in coming due under the year of closing, collected rents on any existing tenancies, interest, utilities, and Lease Agreements during the Lease term that are applicable to the Leased Premises. All bills for utility service or other operating expenses associated with the Property that are Seller’s responsibility shall be pro-rated as of Closingpaid prior to Closing and Seller shall, pursuant to the Lease Agreements continue to pay those utilities for the Leased Premises. If tenants pay any To the extent appropriate for the adjustment of the foregoing expenses directlyamounts to achieve the requirements of this Section, then Escrow Agent the terms of this Section shall only pro rate those expenses paid by Seller. Buyer shall pay all costs of financing including the premium for the lender's title policy. If the Property was taxed under a deferred classification prior to survive Closing, then Seller shall pay all taxes, interest, penalties, deferred taxes or similar items which result from removal of the Property from the deferred classification. At Closing, all refundable deposits on tenancies, if any, shall be credited to Buyer or delivered to Buyer for deposit in a trust account if required by state or local law. Buyer shall pay any sales or use tax applicable to the transfer of personal property included in the sale. All other costs shall be allocated between Seller and Buyer in accordance with the customary practice in King County, Washington for commercial real estate transactions.

Closing Costs and Prorations. Seller shall deliver an updated rent roll to Escrow Agent before the scheduled Closing Date and any other information reasonably requested by Escrow Agent before the Closing Date to allow Escrow Agent to prepare a settlement statement for Closing. Seller and Buyer shall each pay their own legal fees and the fees of their own consultants. Seller shall pay the premium state transfer tax, the cost of satisfaction of any liens on the Lots being conveyed, the costs of any search fees of the Title Company incurred in respect of municipal lien searches on the Lots being conveyed, the cost of any title search, the cost for the preparation and issuance of an owner's standard coverage policy of title insurance for Buyer at each Closing in the amount of the Purchase Price paid at such Closing, Seller's attorneys' fees, one-half of any closing fee charged by the Title PolicyCompany relative to each Closing, and all expenses incurred by Seller related to each Closing. Buyer shall pay any excess or additional premium attributable to any extended coverage policy of title insurance and any endorsements requested by Buyer and the cost of any survey required in connection with the same. Seller and Buyer shall each pay Buyer's attorneys' fees, one-half of any closing fee charged by the escrow feesTitle Company relative to each Closing, and the cost for recording the Deed. Ad valorem taxes on the Lots being conveyed for the tax year of each Closing shall be prorated between Seller and Buyer as of Closing based on the latest assessment available. Should such proration be inaccurate based on the actual ad valorem tax xxxx when received, either party may demand, and shall receive, a payment from the other correcting such apportionment. Seller shall be responsible for and shall pay the real estate excise tax related any roll-back taxes or other taxes attributable to the sale of the Real Property in the amount required by applicable statute Lots’ having been assessed or code. Real and personal property taxes and assessments payable in the year of closing, collected rents on any existing tenancies, interest, utilities, and exempted for agricultural or other operating expenses shall be pro-rated as of Closing. If tenants pay any of the foregoing expenses directly, then Escrow Agent shall only pro rate those expenses paid by Seller. Buyer shall pay all costs of financing including the premium for the lender's title policy. If the Property was taxed under a deferred classification special uses prior to Closing, then Seller whether such taxes become due before, at or after Closing. The provisions of this Section shall pay survive all taxes, interest, penalties, deferred taxes or similar items which result from removal Closings and any termination of the Property from the deferred classification. At Closing, all refundable deposits on tenancies, if any, shall be credited to Buyer or delivered to Buyer for deposit in a trust account if required by state or local law. Buyer shall pay any sales or use tax applicable to the transfer of personal property included in the sale. All other costs shall be allocated between Seller and Buyer in accordance with the customary practice in King County, Washington for commercial real estate transactionsthis Agreement.

Closing Costs and Prorations. Seller shall deliver an updated rent roll to Escrow Closing Agent not later than two (2) days before the scheduled Closing Date closing date in the form required by Section 5(a) and any other information reasonably requested by Escrow Closing Agent before the Closing Date to allow Escrow Closing Agent to prepare a settlement statement for Closingclosing. Seller and Buyer shall each pay their own legal fees and certifies that the fees information contained in the rent roll is correct as of their own consultantsthe date submitted. Seller shall pay the premium for the owner's standard coverage Title Policytitle policy. Buyer shall pay any the excess or additional premium attributable to any extended coverage policy of title insurance and any or endorsements requested by Buyer Xxxxx, and the cost of any survey required in connection with the same. Seller and Buyer shall each pay one-half of the escrow fees. Seller shall pay the real Real estate excise tax related to taxes shall be paid by the sale of party who bears primary responsibility for payment under the Real Property in the amount required by applicable statute or code, which is typically Seller. Real and personal property taxes and assessments payable in the year of closing, ; collected rents on any existing tenancies, ; interest, ; utilities, ; and other operating expenses shall be pro-rated as of Closingclosing. If tenants pay any of the foregoing expenses directly, then Escrow Closing Agent shall only pro rate those expenses paid by Seller. Buyer shall pay to Seller at closing an additional sum equal to any utility deposits or mortgage reserves for assumed financing for which Xxxxx receives the benefit after closing. Buyer shall pay all costs of financing including the premium for the lender's title policy. The real estate commission is due on closing or upon Seller’s default under this Agreement, whichever occurs first, and neither the amount nor due date thereof can be changed without Listing Agent’s written consent. If the Property was taxed under a deferred classification prior to Closingclosing, then Seller shall pay all taxes, interest, penalties, deferred taxes or similar items which result from removal of the Property from the deferred classification. At Closingclosing, all refundable deposits on tenancies, if any, tenancies shall be credited to Buyer or delivered to Buyer for deposit in a trust account if required by state or local law. Buyer shall pay any all sales or use tax applicable to the transfer of personal property included in the sale. All other costs shall be allocated between Seller and Buyer in accordance with the customary practice in King County, Washington for commercial real estate transactions.sale.‌‌