6.1. EDSR 09-21-2020 - Laserfiche WebLink

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457530v2 SJS EL185-33 5 Buyer shall pay the cost of any title insurance or endorsement premiums. The parties shall split any closing fee charged by the title company. 7.2. Real Estate Taxes and Special Assessments. The EDA shall pay the state deed tax. The EDA shall also pay, on or before the Closing Date, all levied special assessments, constituting a lien against the Property as of the effective date, including, without limitation, any installments of special assessments that are payable with general real estate taxes in the year in which Closing occurs. Any general real estate taxes payable in all years prior to the year in which the Closing occurs shall be paid by the EDA. Any general real estate taxes payable in the year in which Closing occurs shall be prorated between the Buyer and the EDA as of the date of Closing. 7.3. Recording Costs. The EDA shall pay the cost of recording all documents necessary to vest marketable title in the EDA and cure title objections, if any. The Buyer shall pay the cost of recording all other documents, including, but not limited to, the quit claim deed. 7.4. Attorneys’ Fees. Each of the parties shall pay its own attorneys’ fees. 7.5. Brokers’ Fees. The Buyer is represented by Richard Lee of Premier Commercial Properties, LLC (the “Buyer’s Broker”). Brokerage fees of three percent of the Purchase Price shall be paid to the Buyer’s Broker by the EDA at Closing. The Buyer confirms that no other brokers are representing it in this transaction. The EDA represents that it is not represented by a broker in this transaction. 8. TITLE EXAMINATION. Title examination shall be conducted as follows: 8.1. EDA’s Title Evidence. Within 10 days of the Effective Date, the EDA shall furnish the following (collectively, “Title Evidence”) to the Buyer: 8.1.1. Title Commitment. A title insurance commitment for the Property. The Buyer shall be responsible for selecting the title insurance company. 8.1.2. Survey. A copy of any existing land survey of the Property in the EDA’s possession or control. The Buyer, at the Buyer’s option, also may obtain, at the Buyer’s expense, a new survey of the Property. Any new survey shall be certified and delivered to the EDA as well as the Buyer and any other parties that the Buyer may designate. 8.2. Buyer’s Objections. No later than 14 days after receiving the updated Title Commitment, the Buyer must make written objections (“Objections”) to the marketability of title to the Property based on the Title Evidence. If the Buyer elects to obtain a new survey, objections based upon the survey must be made within 14 days after receipt of said survey but in no event later than the Contingency Date. The Buyer’s failure to make Objections within such time period will constitute a waiver of Objections. However, any matter which is not referenced in the title commitment Commented [A1]: Aren’t these typically the seller’s expenses?