Resolution 2013-44 - Laserfiche WebLink

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5.2.5 Seller shall execute such other documents as are required by this Agreement or reasonably required by the Title Company to effectuate the transaction contemplated herein. 5.2.6 Seller shall execute an assignment of any interest as Master Lessor in any leases to the Purchaser. 5.3 Obligations of Purchaser at Closing. Purchaser shall deliver the Purchase Price less the amount of the Deposit to Seller, subject only to the adjustments set forth in Section 5.4, by certified or bank cashier's check or by wire transfer of federal funds at Seller's direction. Purchaser shall execute such other documents as are required by this Agreement or reasonably required by the Title Company to effectuate the transaction contemplated herein. 5.4 Closing Costs. Closing costs and adjustments shall be allocated as follows: 5.4.1 Seller will pay the cost of the Owner's Policy of Title Insurance to be provided pursuant to the terms of this Agreement, one -half of any escrow or other Title Company closing fees, and the fees of Seller's counsel. 5.4.2 Real property taxes levied against the Property and other regular expenses, if any, affecting the Property shall be paid or shall be prorated as of 11:59 p.m. on the day preceding the Closing based upon the most recent assessments and mill levy and shall be final. For purposes of calculating prorations, Purchaser shall be deemed to be in title to the Property and therefore entitled to the income and responsible for the expenses, for the entire day upon which the Closing occurs. Except as expressly provided herein, all proration adjustments shall be final as of the Closing Date. Any apportionments which are not expressly provided for herein shall be made in accordance with customary practice in Denver, Colorado. To the extent any revenues or costs are not reasonably ascertainable, such adjustments, if and to the extent known and agreed upon as of the Closing, shall be paid by Purchaser to Seller (if the prorations result in a net credit to the Seller) or by Seller to Purchaser (if the prorations result in a net credit to the Purchaser), by increasing or reducing the cash portion of the Purchase Price to be paid by Purchaser at the Closing. 5.4.3 Purchaser shall pay the cost of recording the special warranty deeds and other conveyance documents, all documentary fees and taxes, the Plat, PUD, Subdivision Agreement and any other documents to be recorded in connection with the Approvals, which documents for the Approvals shall be recorded at closing, one -half of the escrow fees or other Title Company closing fees and the fees of Purchaser's counsel. Seller shall pay the cost of recording the landmark resolution and conservation easement described in Section 9.17 below, which documents shall be recorded at, or prior to closing. 5.5 Closing Contingency. Purchaser acknowledges that Seller's obligation to close on the sale of the Property is expressly contingent upon adoption by the City and final effectiveness of an ordinance authorizing transfer of the Land as required by the City Charter. In addition to all other rights and remedies of Purchaser and Seller hereunder, either party shall Page 10 of 24