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<br />Mar. 3, 2000 9:19AM <br /> <br />No964.5 P 6 <br /> <br />(2) AssU11'l,ption Ail'eemw. An Assumption Agreement, pursuant to which Buyer <br />will assume all obligations of Seller under the Contracts and the Permits that <br />accrue after the Closing Date. <br /> <br />~ <br /> <br />(4) Title Documents. Such affidavits of Purchaser, Certificate5 of Value or other <br />documents as may be reasonably required by Title in order to record the Sellers <br />Closing Documents and issue the Title Insurance Polic)" required by this <br />Agreement <br /> <br />5, Prorations. Seller. and Buyer agree to the following prorations and allocation <br />of costs regarding this Agreement: <br /> <br />(a) Title insurance and Closin~ Fee. Seller '\'ill pay aU costs of the Title Evidence, <br />the ALTA Form B 1970 <h.ner's Title Policy and the fees charged by Title for <br />any escrow required. regarding Buyer's Objections. Buyer ,,,ill pay aU a.dditional <br />premiums required for the issuance of any mortgagee's Title Policy required by <br />Buyer. Seller and Buyer will each pa.y one-half of any reasonable and customary <br />closing fee or charge imposed by any closing agent designated by the Title <br />Company. <br /> <br />(b) Deed Tax. Seller shall pay all state deed ta.'lC: regarding the Warranty Deed 10 be <br />delivered by Seller under this Agreement Buyer shall pay the Mortgage Registry <br />Tax, if any. <br /> <br />(c) Sales TW!. Seller will pay all sales tax due regarding the transaction contemplated <br />by this Agreement. <br /> <br />(d) Real Estate Ta.xes and Special Assessments. Seller will pay, on or before the <br />Closing Date, all special assessments levied, pending or constituting a lien against <br />the Real Property as of the Closing Date including ",it.1oUt limitation any <br />installments of special assessments including interest payable with general real <br />estate taxes in the year of closing. Genera! real estate taxes and installments of <br />special assessments pa)rable therewitl.1 payable the years prior to closing \\111 be <br />paid by Seller. General real estate taxes and installments of special assessments <br />payable therewith paya.ble in the year of dosing shall be prorated by Seller and <br />Buyer as of the Closing Date based upon a calendar fiscal year. Seller shall pay <br />all deferred real estate taxes or special assessments which may becon+e payable as <br />a result of the sale contemplated hereby. If the amount of such general real estate <br />taxes and installments of special assessments payable therewith cannot be <br />determined On the Closing Date, Seller will deposit with Title, from the Purchase <br />Price, an amoWlt equal to 110% of the most current estimate of sucb taxes and <br />special assessment installments, assuming for estimating purposes that the Real <br />Property will be fully assessed. Such deposit \\i11 be held in escrow and all <br />interest earnings on such deposit will be paid to Seller. Title will retain such <br />deposit to pay Seller's share of the actual general real estate taxes payable in the <br />year of closing and installments of special assessments including interest payable <br /> <br />5 <br />