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

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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. County 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, County 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 County, 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 County shall execute such tax 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 County 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. (3) All costs and expenses associated with County’s assumption of the obligations of LifeMoves arising under the Affordability Agreement and the Regulatory Agreement from and after the close of escrow for County’s repurchase of the Property, County’s execution and recordation of the County City Deed of Trust, and County’s assumption of the Permitted Senior Mortgages shall be paid by County; (4) All costs and expenses incident to this transaction and the Closing thereof, and not specifically described above, shall be paid by the party incurring same; and (5) The provisions of this Section 3(d) shall survive the Closing. REV: 06-06-17 JS ATTY/RESO.0051/CC RESO REDWOOD FAMILY HOUSE TRANSITIONAL HOUSING LOAN FORGIVENESS Page 56 of 68 6.3.B. - Page 61