6.9. SR 4-15-2002 - Laserfiche WebLink

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(2) the Title Policy, subject only to the Permitted Exceptions; (3) possession of the Horton Exchange Parcels; (4) a standard form Seller's affidavit; (5) a well disclosure certificate or a statement on the deed asserting that Horton does not know of any wells on the Horton Exchange Parcels;and (6) a Non-Foreign Affidavit in standard form. d. Prorations and Closing Costs. Elk River and Horton agree to the following prorations and allocation of costs, fees, taxes and special assessments with respect to the Exchange Parcels, which the Parties will pay at Closing: (1) Title, Recording and Closing Fees. Each Party shall pay fees charged by the Title Company related to issuing the Title Commitment, including all examination fees and title search fees for the Exchange Parcel which it is transferring. Horton shall pay the premium for the Title Policy issued for the Elk River Exchange Parcels. Elk River shall pay the premium for the Title Policy issued for the Horton Exchange Parcels. Elk River and Horton shall each pay one-half of any closing fee charged by the Title Company. With respect to all other costs, each Party shall pay its share of the Closing costs which are normally assessed by the Title Company against an Elk River or Horton in a transaction of this character in the County. Each transferring Party shall pay any deed tax, conservation tax, and the cost of recording any documents necessary to cure Objections of the acquiring Party or to otherwise transfer good and marketable title to such Party's Exchange Parcels. Each acquiring Party shall pay all document recording fees for the limited warranty deed delivered by the transferring Party. (2) Real Estate Taxes. Each transferring Party shall pay all real estate taxes due and payable in the years prior to the year of Closing with respect to its Exchange Parcels. Real estate taxes due and payable in the year of Closing shall be prorated on a calendar year basis at Closing, effective as of the Closing Date. If Closing shall occur before the tax rate is fixed for the year of Closing, the apportionment of the taxes shall be upon the basis of the real estate taxes for the preceding year, but any difference in actual real estate taxes for the year of Closing shall be adjusted between the Parties to the actual amount upon receipt of written evidence of the payment thereof. Each acquiring Party shall pay all real estate taxes payable in the years after the year of Closing for the Exchange Parcels which it acquires. (3) Deferred Taxes. All "Green Acres" recapture taxes or similar taxes 2174122v1 10