AgdaPkt 2017-06-12 Joint SA PFA - Laserfiche WebLink

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(8) deliver an executed closing statement approved by MidPen; and (9) deliver such additional documents as shall be reasonably required to consummate the transaction contemplated by this Agreement. (c) At Closing, income and expenses shall be prorated as follows: (1) All income and expenses of the Property, shall be apportioned as of 12:01 a.m., on the Closing Date, as if MidPen were vested with title to the Property during the entire day upon which Closing occurs. Such prorated items shall include operating expenses or other items pertaining to the Property which are customarily prorated between a buyer and a seller in the county in which the Property is located. (2) Except as otherwise provided herein, any revenue or expense amount which cannot be ascertained with certainty as of Closing shall be prorated on the basis of the parties’ reasonable estimates of such amount, and shall be the subject of a final proration sixty (60) days after Closing, or as soon thereafter as the precise amounts can be ascertained. MidPen shall promptly notify LifeMoves when it becomes aware that any such estimated amount has been ascertained. Once all revenue and expense amounts have been ascertained, MidPen shall prepare, and certify as correct, a final proration statement which shall be subject to LifeMoves’ reasonable approval. Upon LifeMoves’ acceptance and approval of any final proration statement submitted by MidPen, such statement shall be conclusively deemed to be accurate and final. (3) The provisions of this Section 3(c) shall survive Closing. (d) At Closing, the parties hereto shall pay the closing costs as outlined below: (1) LifeMoves and MidPen shall execute such returns, questionnaires and other documents as shall be required with regard to all applicable real property transaction taxes imposed by applicable federal, state or local law or ordinances. (2) LifeMoves and MidPen shall each pay closing costs in connection with the transaction according to the custom in San Mateo County. Closing costs include county-imposed transfer tax, documentary stamp tax or similar tax, any city-imposed transfer tax, documentary stamp tax or similar tax which becomes payable by reason of the transfer of the Property, escrow fees, if any, which may be charged by the escrow holder or title company, the standard premium for the cost of a CLTA owner’s policy of title insurance, the additional premium, if any, charged for the Title Policy (if it will be an ALTA extended coverage owner’s policy) over the standard price of a CLTA owner’s policy of title insurance, the cost of the ALTA survey (if applicable), and recording fees. REV: 06-06-17 JS ATTY/RESO.0051/CC RESO REDWOOD FAMILY HOUSE TRANSITIONAL HOUSING LOAN FORGIVENESS Page 32 of 68 6.3.B. - Page 37