Nautilus 2000 Annual Report Download - page 85

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(vi)
all other costs and expenses that may be allocated to Seller pursuant to the terms of this Agreement.
(b)
Purchase shall pay:
(i)
the cost (exclusive of any transfer or similar taxes) of recording the general warranty deed and any other documents that Purchaser
may choose to record,
(ii)
all costs for an extended ALTA Owner's Title Policy in excess of a standard owner's policy as described in Section6.1, if
Purchaser elects to purchase such an extended policy of title insurance,
(iii)
one-half of the escrow fees or similar charges of the Title Company, and
(iv)
all other costs and expenses that may be allocated to Purchaser pursuant to the terms of this Agreement.
(c)
All other expenses incurred by Seller or Purchaser with respect to Closing, including but not limited to attorneys' fees, shall be borne
and paid exclusively by the party incurring the same unless the parties hereto expressly agree in writing to the allocation of part or all
of such expenses to one of the parties.
7.5 Proration of Income and Expenses. The following items shall be adjusted or prorated between Seller and Purchaser at the Closing, as of the
Closing Date:
(a)
Ad valorem and similar taxes (excluding assessments) for the then current tax year relating to the Property shall be prorated. If the
Closing occurs before the tax rate is fixed for the then current tax year, the apportionment of taxes shall be made on the basis of the tax
rate for the preceding tax year applied to the latest assessed valuation of the Property, and when the tax rate is fixed for the tax year in
which the Closing occurs, Seller and Purchaser hereby agree, one to the other, to adjust the proration of taxes and, if necessary, to
refund or pay such sums to the other party as shall be necessary to effect such adjustment;
(b)
All unpaid assessments, if any, existing as of the Closing Date, whether due and payable before or after such date, shall be allocated
such that Seller pays any amounts due prior to closing and Purchaser is responsible for any amounts coming due after Closing; and
(c)
All other income and operating expenses for or pertaining to the Property, including, but not limited to, public utility charges
maintenance, security, and similar contractual charges, and all other operating charges with respect to the Property shall be prorated
between Purchaser and Seller as of the Closing Date.
7.6 Post-Closing Adjustments. Seller and Purchaser agree that, to the extent items are prorated or adjusted at the Closing on the basis of
estimates, or are not prorated or adjusted at the Closing pending actual receipt of funds or compilation of information upon which such
prorations or adjustments are to be based, each of them will, upon a proper accounting, pay to the other such amounts as may be necessary such
2002. EDGAR Online, Inc.