8.1. SR 07-01-2019 - Laserfiche WebLink

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(b) Deed Tax. The City and the District will each pay all state deed tax, and the agricultural preservation deed tax, if any, for recording their respective Deed to be delivered under this Agreement. (c) Recording Costs. The City and the District will pay the cost of recording all documents necessary to place record title in the condition warranted by the City and the District in this Agreement. Each party will pay the cost of recording their respective Deed and all other documents as hereinafter defined. (d) Real Estate Taxes and Special Assessments. (i) Prior Years' Delinquent Real Estate Taxes and Delinquent Special Assessments. Delinquent real estate taxes payable in years prior to the year of Closing and delinquent installments of special assessments certified for collection with real estate taxes payable in years prior to the year of Closing, together with penalty, interest and costs, shall be paid by the respective party for their property being transfer under this Agreement not later than the Date of Closing. (ii) Real Estate Taxes Payable in the Year of Closing. Real estate taxes for the properties payable in the year of Closing shall be prorated between the City and the District on a calendar year basis to the Date of Closing for their respective properties being transferred. Each party shall pay penalty, interest and costs on any delinquent installment of taxes and special assessments payable in the year of Closing for their respective properties being transferred. (iii) Deferred Real Estate Taxes. Each party shall pay on Date of Closing or provide for payment of any deferred real estate taxes payment of which is required as a result of the Closing and the recording of the respective Warranty Deeds. Provision for payment shall be by payment into escrow of 1.5 times the estimated payoff amount of the deferred taxes. (iv) Certified Special Assessments. All installments of special assessments certified for payment with the real estate taxes payable in the year of Closing shall be prorated by the City and the District for the property being transferred at Closing. (vi) Pending Special Assessments. The City and the District shall provide for payment of special assessments pending as of the date of this Agreement for improvements that have been ordered by the City or other governmental authorities for their respective property being transferred except as provided herein. (vii) Deferred Special Assessments. The City and the District shall pay on the Date of Closing or provide for payment of any deferred special 2oi97M 6