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<br />Commercial Contract - Improved Property concerning <br /> <br />908 and 912 West Main Street, La Porte <br /> <br />12. SALES EXPENSES: <br /> <br />A. Seller's Expenses: Seller will pay for the following at or before closing: <br />(1) releases of .existing liens, other than those liens assumed by Buyer, including prepayment penalties <br />ang re~ording fees;, ' <br />(2) release of Seller's loan liability, if applicable; <br />(3) tax statements or certificates; <br />(4) .preparation of the de~d and any bill of sale; <br />(5) one-half of any escrow fee; <br />(6) costs to record any documents to cure title objections that Seller must cure; and <br />(7) other expenses that Seller will pay under other provisions of this contract. <br /> <br />B. Buyer'S Expenses: Buyer will pay for the following at or before closing: <br />(1) all loan exPenses (for example, appliCation fees, origination fees, discount fees, buy-down fees, <br />commitment fees, appraisal fees, assumption fees, recording fees, tax service fees, mortgagee title <br />policy expenses, credit report fees, document preparation "fees, interest e)q)ense that Buyer's <br />lender requires Buyedo pay at closing, loan related inspectipn fees, amortization schedule fees, <br />courier fees, underwriting fees, wire transfer fees, and other fees required by Buyer's lender); <br />(2) pr~paratlon fees of any deed of trust; <br />(3) recording fees for the deed and any deed of trust; <br />(4) premiums for flood C!.nd hazard insurance as may be required by Buyer's lender; <br />(5) , omrhalf of any escrow fee; <br />(6) copy and delivery fees for delivery of the title commitment and related documents; and <br />(7) other expenses that Buyer will pay under other provisions of this contract. <br /> <br />13. PRORATIONS, ROLLBACK TAXES, ESTOPPEL CERTIFICATES, RENT, AND DEPOSitS: <br /> <br />A. Prorations': <br /> <br />(1) Interest 00 any assumed loan. taxes, rents, and any expense reimbursements from tenahts will be <br />prorated through the closing date. ' <br /> <br />(2) If the amount of ad valorem taxes for the year in which the sale closes is not available on the <br />closing date, taxes will be prorated on the basis of taxes assessed in th.e previous year. If the taxes <br />for the year in which the sale closes vary from the amount prorated at clo~ing, the parties will adjust <br />the prorations whem the tax statements for the year In which the sale closes become available. This <br />Paragraph 13A(2) survives closiIig~ ' <br /> <br />(3) If Buyer assumes a loan or is takil19 the Property subject to an existing lien, Seller will transfer all <br />reserve deposits held' by theiender for the payment of ~axE?S, insurance,prerniyms, aDd otOF! <br />charges to Buyer at closing and Buyer will reimburse such amounts to Seller by an appropriate <br />adjustment at closing. <br /> <br />Initialed for Identification by Buyer <br /> <br /> <br />. p <br />, . -'--- seller--tf-K-- <br /> <br />Page 8 of 14 <br /> <br />(TAR-1801) 2-6-02 <br /> <br />.", <br /> <br /> <br />Produced -Mth ZipForm '" by RE FormsNet, LLC 18025 Filteen M~e ,Road, <br />